IU Average move How The Script Works :
1. This script calculate the average movement of the price in a user defined custom session and plot the data in a table from on top left corner of the chart.
2. The script takes highest and lowest value of that custom session and store their difference into an array.
3. Then the script average the array thus gets the average price.
4. Addition to that the script converter the price pip change into percentage in order to calculate the value in percentage form.
5. This script is pure price action based the script only take price value and doesn't take any indicator for calculation.
6. The script works on every type of market.
7. If the session is invalid it returns nothing
8. The background color, text color and transparency is changeable.
How User Can Benefit From This Script:
1. User can understand the volatility of any session that he/she wish to trade.
2. It can be helpful for understanding the average price moment of any tradeble asset.
3. It will give the average price movement both in percentage and points bases.
4. By understanding the volatility user can adjust his stop loss or take profit with respect his risk management.
Buscar en scripts para "THE SCRIPT"
Naresh CE with 13 62 crossThank you to Lauris, for sharing knowledge and logic for the EMA cross-over (13/62).
The provided Pine Script is a custom script, which is designed to display Chandelier Exit levels on the price chart and generate buy and sell labels based on specific conditions.
Here's a breakdown of the key components and logic of the Pine Script:
Exponential Moving Averages (EMAs):
ema1: The 13-period Exponential Moving Average (EMA) of the closing price.
ema2: The 62-period Exponential Moving Average (EMA) of the closing price.
EMA Plotting:
The script plots the ema1 (13 EMA) and ema2 (62 EMA) lines on the price chart using the plot() function.
Chandelier Exit Calculation:
The Chandelier Exit values are calculated using the Average True Range (ATR).
The script calculates the atr (Average True Range) using the atr() function with the given length.
longStop is calculated as the highest price of the specified length minus the ATR, and shortStop is calculated as the lowest price plus the ATR.
Directional Indicator (dir):
The dir variable is used to determine the direction of the Chandelier Exit based on the comparison of the current close price with the previous long and short stops.
Buy and Sell Signals:
The script generates buy signals when the Chandelier Exit direction changes from short to long (buySignal).
Similarly, sell signals are generated when the Chandelier Exit direction changes from long to short (sellSignal).
The conditions for buy and sell signals are based on the value of dir and its previous value.
Buy and Sell Labels:
Buy and sell labels are plotted on the chart using plotshape() based on the generated buy and sell signals.
The showLabels input parameter controls whether to display the buy and sell labels.
Highlighting States:
The script fills the chart area with color (green for long, red for short) based on the direction of the Chandelier Exit values.
The highlightState input parameter controls whether to apply this highlighting.
Alerts:
The script includes alert conditions based on the direction change (changeCond), buy signal (buySignal), and sell signal (sellSignal) using the alertcondition() function.
The script aims to help traders identify potential buy and sell signals based on the Chandelier Exit levels derived from the 13 EMA and 62 EMA crossovers. The Chandelier Exit values can serve as dynamic stop-loss levels for long and short positions.
Oscillator Workbench — Chart [LucF]█ OVERVIEW
This indicator uses an on-chart visual framework to help traders with the interpretation of any oscillator's behavior. The advantage of using this tool is that you do not need to know all the ins and outs of a particular oscillator such as RSI, CCI, Stochastic, etc. Your choice of oscillator and settings in this indicator will change its visuals, which allows you to evaluate different configurations in the context of how the workbench models oscillator behavior. My hope is that by using the workbench, you may come up with an oscillator selection and settings that produce visual cues you find useful in your trading.
The workbench works on any symbol and timeframe. It uses the same presentation engine as my Delta Volume Channels indicator; those already familiar with it will feel right at home here.
█ CONCEPTS
Oscillators
An oscillator is any signal that moves up and down a centerline. The centerline value is often zero or 50. Because the range of oscillator values is different than that of the symbol prices we look at on our charts, it is usually impossible to display an oscillator on the chart, so we typically put oscillators in a separate pane where they live in their own space. Each oscillator has its own profile and properties that dictate its behavior and interpretation. Oscillators can be bounded , meaning their values oscillate between fixed values such as 0 to 100 or +1 to -1, or unbounded when their maximum and minimum values are undefined.
Oscillator weight
How do you display an oscillator's value on a chart showing prices when both values are not on the same scale? The method I use here converts the oscillator's value into a percentage that is used to weigh a reference line. The weight of the oscillator is calculated by maintaining its highest and lowest value above and below its centerline since the beginning of the chart's history. The oscillator's relative position in either of those spaces is then converted to a percentage, yielding a positive or negative value depending on whether the oscillator is above or below its centerline. This method works equally well with bounded and unbounded oscillators.
Oscillator Channel
The oscillator channel is the space between two moving averages: the reference line and a weighted version of that line. The reference line is a moving average of a type, source and length which you select. The weighted line uses the same settings, but it averages the oscillator-weighted price source.
The weight applied to the source of the reference line can also include the relative size of the bar's volume in relation to previous bars. The effect of this is that the oscillator's weight on bars with higher total volume will carry greater weight than those with lesser volume.
The oscillator channel can be in one of four states, each having its corresponding color:
• Bull (teal): The weighted line is above the reference line.
• Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the weighted lines are rising.
• Bear (maroon): The weighted line is below the reference line.
• Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the weighted lines are falling.
Divergences
In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the weighted line. No directional bias is assigned to divergences when they occur. You can also choose to define divergences as differences in polarity between the oscillator's slope and the polarity of close-to-close values. This indicator's divergences are designed to identify transition levels. They have no polarity; their bullish/bearish bias is determined by the behavior of price relative to the divergence channel after the divergence channel is built.
Divergence Channel
The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel.
Price breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:
• Bull (teal): Price has breached the channel to the upside.
• Strong bull (lime): The bull condition is fulfilled and the oscillator channel is in the strong bull state.
• Bear (maroon): Price has breached the channel to the downside.
• Strong bear (pink): The bear condition is fulfilled and the oscillator channel is in the strong bear state.
• Neutral (gray): The channel has not been breached.
█ HOW TO USE THE INDICATOR
Load the indicator on an active chart (see here if you don't know how).
The default configuration displays:
• The Divergence channel's levels.
• Bar colors using the state of the oscillator channel.
The default settings use:
• RSI as the oscillator, using the close source and a length of 20 bars.
• An Arnaud-Legoux moving average on the close and a length of 20 bars as the reference line.
• The weighted version of the reference line uses only the oscillator's weight, i.e., without the relative volume's weight.
The weighted line is capped to three standard deviations of the reference.
• The divergence channel's levels are determined using the high and low of the bars where divergences occur.
Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom.
No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions.
To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it.
█ FEATURES
The script's inputs are divided in five sections: "Oscillator", "Oscillator channel", "Divergence channel", "Bar Coloring" and "Marker/Alert Conditions".
Oscillator
This is where you configure the oscillator you want to study. Thirty oscillators are available to choose from, but you can also use an oscillator from another indicator that is on your chart, if you want. When you select an external indicator's plot as the oscillator, you must also specify the value of its centerline.
Oscillator Channel
Here, you control the visibility and colors of the reference line, its weighted version, and the oscillator channel between them.
You also specify what type of moving average you want to use as a reference line, its source and its length. This acts as the oscillator channel's baseline. The weighted line is also a moving average of the same type and length as the reference line, except that it will be calculated from the weighted version of the source used in the reference line. By default, the weighted line is capped to three standard deviations of the reference line. You can change that value, and also elect to cap using a multiple of ATR instead. The cap provides a mechanism to control how far the weighted line swings from the reference line. This section is also where you can enable the relative volume component of the weight.
Divergence Channel
This is where you control the appearance of the divergence channel and the key price values used in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices.
In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it. You can also change the detection mode of divergences, and choose to display a mark above or below bars where divergences occur.
Bar Coloring
You specify here:
• The method used to color chart bars, if you choose to do so.
• If you want to hollow out the bodies of bars where volume has not increased since the last bar.
Marker/Alert Conditions
Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the oscillator and the divergence channels. The triggering conditions can be filtered using a variety of conditions.
Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger.
Realtime values will repaint, as is usually the case with oscillators, but markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens.
Raw values
The raw values calculated by this script can be inspected using the Data Window, including the oscillator's value and the weights.
█ INTERPRETATION
Except when mentioned otherwise, this section's charts use the indicator's default settings, with different visual components turned on or off.
The aim of the oscillator channel is to provide a visual representation of an oscillator's general behavior. The simplest characteristic of the channel is its bull/bear state, determined by whether the weighted line is above or below the reference line. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when trends are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals. This shows the oscillator channel, with the reference line and the thicker, weighted line:
The nature of the divergence channel 's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. The divergence channel will also reveal transition areas. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the oscillator channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price. This show only the divergence channels:
This chart shows divergence channels and their levels, and colors bars on divergences and on the state of the oscillator channel, which is not visible on the chart:
If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator. Here we only color bars using the combined state of the oscillator and divergence channel, and we do not color the bodies of bars where volume has not increased. Note that my chart's settings do not color the candle bodies:
At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the oscillator channel and a divergence channel, as these identify points where price is breaching the divergence channel when the oscillator's state is consistent with the direction of the breach.
Tip
One way to use the Workbench is to combine it with my Delta Volume Channels indicator. If both indicators use the same MA as a reference line, you can display its delta volume channel instead of the oscillator channel.
This chart shows such a setup. The Workbench displays its divergence levels, the weighted reference line using the default RSI oscillator, and colors bars on divergences. The DV Channels indicator only displays its delta volume channel, which uses the same MA as the workbench for its baseline. This way you can ascertain the volume delta situation in contrast with the visuals of the Workbench:
█ LIMITATIONS
• For some of the oscillators, assumptions are made concerning their different parameters when they are more complex than just a source and length.
See the `oscCalc()` function in this indicator's code for all the details, and ask me in a comment if you can't find the information you need.
• When an oscillator using volume is selected and no volume information is available for the chart's symbol, an error will occur.
• The method I use to convert an oscillator's value into a percentage is fragile in the early history of datasets
because of the nascent expression of the oscillator's range during those early bars.
█ NOTES
Working with this workbench
This indicator is called a workbench for a reason; it is designed for traders interested in exploring its behavior with different oscillators and settings, in the hope they can come up with a setup that suits their trading methodology. I cannot tell you which setup is the best because its setup should be compatible with your trading methodology, which may require faster or slower transitions, thus different configurations of the settings affecting the calculations of the divergence channels.
For Pine Script™ Coders
• This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.
• I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,
namely those I only want to appear in the script's status line and in the Data Window.
• I used my ta library for some of the oscillator calculations and helper functions.
• I also used TradingView's ta library for other oscillator calculations.
• I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual.
Position Tool█ OVERVIEW
This script is an interactive measurement tool that can be used to evaluate or keep track of trades. Like the long and short position drawing tools, it calculates a risk reward ratio and a risk-adjusted position size from the entry, stop and take profit levels, but it also does much more:
• It can be used to configure long or short trades.
• All monetary values can be expressed in any number of currencies.
• The value of tick/pip movement (which varies with the position's size) is displayed in the currency you have selected.
• The CAGR ( Compound Annual Growth Rate ) for the trade can be displayed.
• It does live tracking of the position.
• You can configure alerts on entries and exits.
█ HOW TO USE IT
Load the indicator on an active chart (see here if you don't know how).
When you first load this script on a chart, you will enter an interactive selection mode where the script asks you to pick three points in price and time on your chart by clicking on the chart. Directions will appear in a blue box at the bottom of the screen with each click of the mouse. The first selection is the entry point for the trade you are considering, which takes into account both the time and level you choose, the next are the take profit and stop levels. Once you have selected all three points, the script will draw trade zones and labels containing the trade metrics. The script determines if the trade is a long or short from the position of the take profit and stop loss levels in relation to the entry price. If the take profit level is above the entry price, the stop must be below and vice versa, otherwise an error occurs.
You can change levels by dragging the handles that appear when you select the indicator, or by entering new values in the script's settings. The only way to re-enter interactive mode is to re-add the indicator to your chart.
Once you place the position tool on a chart, it will appear at the same levels on all symbols you use. If your scale is not set to "Scale price chart only", the position tool's levels will be taken into account when scaling the chart, which can cause the symbol's bars to be compressed. If your scale is set to "Scale price chart only", the position tool will still be there, but it will not impact the scale of the chart's bars, so you won't see it if it sits outside the symbol's price scale.
If you select the position tool on your chart and delete it, this will also delete the indicator from the chart. You will need to re-add it if you want to draw another position tool. You can add multiple instances of the indicator if you need a position tool on more than one of your charts.
█ FEATURES
Display
The position tool displays the following information for entries:
• The entry's price level with an '@' sign before it.
• Open or Closed P&L : For an open trade, the "Open P&L" displays the difference in money value between the entry level and the chart's current price.
For a closed trade, the "Closed P&L" displays the realized P&L on the trade.
• Quantity : The trade size, which takes into account the risk tolerance you set in the script's settings.
• RR : The reward to risk ratio expresses the relationship of the distance between the entry and the take profit level vs the entry and the stop level.
Example: A $100 stop with a $100 target will have a ratio of 1:1, whereas a $200 target with the same stop will have a 2:1 ratio.
• Per tick/pip : Represents the money value of a tick or pip movement.
• CAGR : The Compound Annual Growth Rate will be displayed on the main order label on trades that exceed one day in duration.
This value is calculated the same way as in our CAGR Custom Range indicator.
If the trade duration is less than one day, the metric will not be present in the display.
The stop and take profit levels display:
• Their price level with an '@' sign before it.
• Their distance from the entry in money value, percentage and ticks/pips.
• The projected end money value of the position if the level is reached. These values are calculated based on the trade size and the currency.
Currency adjustments
This indicator modifies the trade label's colors and values based on the final Profit and Loss (P&L), which considers the dynamic exchange rate between base and conversion currencies in its calculations when the conversion currency is a specified value other than the default. Depending on the cross rate between the base and account currencies, this process can yield a negative P&L on an otherwise successful simulated trade.
For instance, if your account is in currency XYZ, you might buy 10 Apple shares at $150 each, with the XYZ to USD exchange rate being 2:1. This purchase would cost you 3000 units of XYZ. Suppose that later on, the shares appreciate to $170 each, and you decide to sell. One might expect this trade to result in profit. However, if the exchange rate has now equalized to 1:1, the return on selling the shares, calculated in XYZ, would only be 1700 units, resulting in a loss of 1300 units XYZ.
The indicator will mark the P&L and the target labels in red in such cases, regardless of whether the market price reached the profit target, as the trade produced a net loss due to reduced funds after currency conversion. Conversely, an otherwise unsuccessful position can result in a net profit in the account currency due to conversion rate fluctuations. The final losses or gains appear in the label metrics, and the corresponding color coding reflects the trade's success or failure.
Settings
The settings in the "Trade sizing" section are used to calculate the position size and the monetary value of trades. Two types of risk can be chosen from the menu; a percentage based risk calculation, or a fixed money value. The risk is used to calculate the quantity of units to purchase to achieve that level of risk exposure. Example: An account size of $1000 and 10% risk will have a projected end amount of $900 if the stop loss is hit. The quantity is a product of this relationship; a projected number of units to allow for the equivalent of $100 of risk exposure over the change in price from the entry to the stop value.
The "Trade levels" allow you to manually set the entry, take profit and stop levels of an existing position tool on your chart.
You can control the appearance of the tool and the values it displays in the settings following these first two sections.
Alerts
Three alerts that will trigger when you configure an alert on this indicator. The first will send an alert when the entry price is breached by price action if that price has not already been breached in the previous price history. This is dependant on the entry location you select when placing the indicator on the chart. The other two alerts will trigger when either the stop loss or the take profit level is breached to signal that a trade exit has occurred.
█ NOTES FOR Pine Script™ CODERS
• Interactive inputs are implemented for input.time() and input.price() . These specialized input functions allow users to interact with a script.
You can create one interactive input for both time and price values by using the same `inline` argument in a pair of input.time() and input.price() function calls.
• We use the `cagr()` function from our ta library.
• The script uses the runtime.error() function to throw an error if the stop and limit prices are not placed on opposing sides of the entry price.
• We use the `currency` parameter in a request.security() call to convert currencies.
Look first. Then leap.
Coin Bureau BB/EMA/RSI IndicatorThis indicator was inspired by Coin Bureau's How To Spot The Crypto Top video. In the video, Coin Bureau uses Bollinger bands, 7-period EMA and RSI to look for early signs of a top, thus presenting an opportunity to sell.
Using the basic principles found in the video, I've made a tentative indicator as a way to visualise all 3 indicators at once. Alerts will only fire when all 3 criteria are met:
Price closes outside 20-period Bollinger bands
Price closes ~2sd away from 7-period EMA
RSI is overbought or oversold
The indicator will also update in real-time and show when 1, 2 or all 3 conditions are satisfied. Additionally, there is built-in functionality to toggle historical/current alerts and users can set their own bounds for what constitutes a buy or sell alert.
This is just a personal project purely for edutainment purposes and should not be used to make financial decisions. This project is not affiliated with Coin Bureau.
Some caveats:
Using only 7 periods to calculate the standard deviation of price data will not lead to a statistically significant result, thus this figure may have no right being in the script. However, this was more to trial some techniques and to get acquainted with the pine scripting language.
As you can see, there are a lot of false positives. There are moments when the indicator flashes a sell alert only for the price to keep on rising. This is due to the specificity/sensitivity trade-off. The indicator has been tuned to give the optimal sensitivity (the more critical component). These are the best results I could find for this asset in this time frame.
3rd WaveHello All,
In Elliott Wave Theory, 3rd wave is not the shortest one in the waves 1/3/5 and it's usually longest one. so if we can catch it then we may get good opportunities to trade. This script finds 3rd wave experimentally. it can be also the 3rd waves in the waves 1, 3, 5, A and C. the 3rd wave should have greater volume than other waves, the script can check its volume and compare with the volumes of the waves 1 and 2 optionally.
Pine Team released Pine version 5! This script was developed in v5 and it uses Library feature of Pine v5 for the zigzag functions. This script is also an example for the Pine developers who learn Pine v5 and Libraries.
Options:
Zigzag Period: is the length that is used to calculate highest/lowest and the zigzag waves
Min/Max Retracements: is the retracement rates to check the wave 2 according to wave 1. for example; if min/max values are 0.500-0.618 then wave 2 must be minimum 0.500 of wave 1 and maximum 0.618 of wave 1.
Check Volume Support: is an option to compare the volumes of1. 2. and . waves. if you enable this option then the script checks their volume and 3rd wave volume must be greater then 1 and 2
there are 4 options for the targets. you can enable/disable and change their levels. targets are calculated using length of wave 1.
Options to show breakout zone, zigzag, wave 1 and 2.
and some options for the colors.
The Library that is used in this script:
P.S. This is an experimental work and can be improved. So do not hesitate to drop your comments under the script ;)
Enjoy!
[SCL] Significant Figures Example FunctionThis script consist of a single example function that takes a floating-point number - one that can, but doesn't have to, include a decimal point - and converts it to a floating-point number with only a certain number of significant digits left.
I'm not aware of another script that does this. There might well be a simpler way, in which case please do let me know.
For example, say you want to display a variable from your script to the user and it comes out to something like 45.366666666666666666666667 or whatever. That looks awful when you, for example, print it in a label.
Now, you could round it up to the nearest integer easily using a built-in function, or even to a certain number of decimal places using a reasonably simple custom function.
But that's a bit arbitrary. Suppose you don't know what asset the script will be used on, and so you can't predict what the price is, and what the value will turn out to be.
It could be 0.00045366666666666666666666667 instead. Now if you round it up to 3 decimal places it comes out as 0.000, which is useless.
My function will round that number to 0.0004536 instead, if told to do it to 4 significant digits.
You're free to use this function in your own scripts, including closed-source scripts, without asking permission. Credit to @SimpleCryptoLife would be appreciated.
TTM Squeeze Scanner This script scans for TTM Squeezes for the crypto symbols included in the body of the script. The timeframe for the squeeze scan is controlled within the input not the chart.
This script is a merge of @Nico.Muselle's TTM Squeeze script and @QuantNomad's custom screener script. Thanks to both of them!
FVG Maxing - Fair Value Gaps, Equilibrium, and Candle Patterns
What this script does
This open-source indicator highlights 3-candle fair value gaps (FVGs) on the active chart timeframe, draws their midpoint ("equilibrium") line, tracks when each gap is mitigated, and optionally marks simple candle patterns (engulfing and doji) for confluence. It is intended as an educational tool to study how price interacts with imbalances.
3-candle bullish and bearish FVG zones drawn as forward-extending boxes.
Equilibrium line at 50% of each gap.
Different styling for mitigated vs unmitigated gaps.
Compact statistics panel showing how many gaps are currently active and filled.
Optional overlays for bullish/bearish engulfing patterns and doji candles.
1. FVG logic (3-candle gaps)
The script focuses on a strict 3-candle definition of a fair value gap:
Three consecutive candles with the same body direction.
The wick of candle 3 is separated from the wick of candle 1 (no overlap).
A bullish gap is created when price moves up fast enough to leave a gap between candle 1 and 3. A bearish gap is the mirror case to the downside.
In Pine, the core detection looks like this:
// Three candles with the same body direction
bull_seq = close > open and close > open and close > open
bear_seq = close < open and close < open and close < open
// Wick gap between candle 1 and candle 3
bull_gap = bull_seq and low > high
bear_gap = bear_seq and high < low
// Final FVG flags
is_bull_fvg = bull_gap
is_bear_fvg = bear_gap
For each detected FVG:
Bullish FVG range: from high up to low (gap below current price).
Bearish FVG range: from low down to high (gap above current price).
Each zone is stored in a custom FVGData structure so it can be updated when price later trades back inside it.
2. Equilibrium line (0.5 of the gap)
Every FVG box gets an optional equilibrium line plotted at the midpoint between its top and bottom:
eq_level = (top + bottom) / 2.0
right_index = extend_boxes ? bar_index + extend_length_bars : bar_index
bx = box.new(bar_index - 2, top, right_index, bottom)
eq_ln = line.new(bar_index - 2, eq_level, right_index, eq_level)
line.set_style(eq_ln, line.style_dashed)
line.set_color(eq_ln, eq_color)
You can use this line as a neutral “fair value” reference inside the zone, or as a simple way to think in terms of premium/discount within each gap.
3. Mitigation rules and styling
Each FVG stays active until price trades back into the gap:
Bullish FVG is considered mitigated when the low touches or moves below the top of the gap.
Bearish FVG is considered mitigated when the high touches or moves above the bottom of the gap.
When that happens, the script:
Marks the internal FVGData entry as mitigated.
Softens the box fill and border colors.
Optionally updates the label text from "BULL EQ / BEAR EQ" to "BULL FILLED / BEAR FILLED".
Can hide mitigated zones almost completely if you only want to see unfilled imbalances.
This allows you to distinguish between current areas of interest and zones that have already been traded through.
4. Candle pattern overlays (engulfing and doji)
For additional confluence, the script can mark simple candle patterns on top of the FVG view:
Bullish engulfing — current candle body fully wraps the previous bearish body and is larger in size.
Bearish engulfing — current candle body fully wraps the previous bullish body and is larger in size.
Doji — candles where the real body is small relative to the full range (high–low).
The detection is based on basic body and range geometry:
curr_body = math.abs(close - open)
prev_body = math.abs(close - open )
curr_range = high - low
body_ratio = curr_range > 0 ? curr_body / curr_range : 1.0
bull_engulfing = close > open and close < open and open <= close and close >= open and curr_body > prev_body
bear_engulfing = close < open and close > open and open >= close and close <= open and curr_body > prev_body
is_doji = curr_range > 0 and body_ratio <= doji_body_ratio
On the chart, they appear as:
Small triangle markers below bullish engulfing candles.
Small triangle markers above bearish engulfing candles.
Small circles above doji candles.
All three overlays are optional and can be turned on or off and recolored in the CANDLE PATTERNS group of inputs.
5. Inputs overview
The script organizes settings into clear groups:
DISPLAY SETTINGS : Show bullish/bearish FVGs, show/hide mitigated zones, box extension length, box border width, and maximum number of boxes.
EQUILIBRIUM : Toggle equilibrium lines, color, and line width.
LABELS : Enable labels, choose whether to label unmitigated and/or mitigated zones, and select label size.
BULLISH COLORS / BEARISH COLORS : Separate fill and border colors for bullish and bearish gaps.
MITIGATED STYLE : Opacity used when a gap is marked as mitigated.
STATISTICS : Toggle the on-chart FVG statistics panel.
CANDLE PATTERNS : Show engulfing patterns, show dojis, colors, and the body-to-range threshold that defines a doji.
6. Statistics panel
An optional table in the corner of the chart summarizes the current state of all tracked gaps:
Total number of FVGs still being tracked.
Number of bullish vs bearish FVGs.
Number of unfilled vs mitigated FVGs.
Simple fill rate: percentage of tracked FVGs that have been marked as mitigated.
This can help you study how a particular market tends to treat gaps over time.
7. How you might use it (examples)
These are usage ideas only, not recommendations:
Study how often your symbol mitigates gaps and where inside the zone price tends to react.
Use higher-timeframe context and then refine entries near the equilibrium line on your trading timeframe.
Combine FVG zones with basic candle patterns (engulfing/doji) as an extra visual anchor, if that fits your process.
Hope you enjoy, give your feedback in the comments!
- officialjackofalltrades
Open Interest RSI [BackQuant]Open Interest RSI
A multi-venue open interest oscillator that aggregates OI across major derivatives exchanges, converts it to coin or USD terms, and runs an RSI-style engine on that aggregated OI so you can track positioning pressure, crowding, and mean reversion in leverage flows, not just in price.
What this is
This tool is an RSI built on top of aggregated open interest instead of price. It pulls futures OI from several major exchanges, converts it into a unified unit (COIN or USD), sums it into a single synthetic OI candle, then applies RSI and smoothing to that combined series.
You can then render that Open Interest RSI in different visual modes:
Clean line or colored line for classic oscillator-style reads.
Column-style oscillator for impulse and compression views.
Flag mode that fills between OI RSI and its EMA for trend/mean reversion blends. See:
Heatmap mode that paints the panel based on OI RSI extremes, ideal for scanning. See:
On top of that it includes:
Aggregated OI source selection (Binance, Bybit, OKX, Bitget, Kraken, HTX, Deribit).
Choice of OI units (COIN or USD).
Reference lines and OB/OS zones.
Extreme highlighting for either trend or mean reversion.
A vertical OI RSI meter that acts as a quick strength gauge.
Aggregated open interest source
Under the hood, the indicator builds a synthetic open interest candle by:
Looping over a list of supported exchanges: Binance, Bybit, OKX, Bitget, Kraken, HTX, Deribit.
Looping over multiple contract suffixes (such as USDT.P, USD.P, USDC.P, USD.PM) to capture different contract types on each venue.
Requesting OI candles from each venue + contract combination for the same underlying symbol.
Converting each OI stream into a common unit: In COIN mode, everything is normalized into coin-denominated OI. In USD mode, coin OI is multiplied by price to approximate notional OI.
Summing up open, high, low and close of OI across venues into a single aggregated OI candle.
If no valid OI is available for the current symbol across all sources, the script throws a clear runtime error so you know you are on an unsupported market.
This gives you a single, exchange-agnostic open interest curve instead of being tied to one venue. That aggregated OI is then passed into the RSI logic.
How the OI RSI is calculated
The RSI side is straightforward, but it is applied to the aggregated OI close:
Compute a base RSI of aggregated OI using the Calculation Period .
Apply a simple moving average of length Smoothing Period (SMA) to reduce noise in the raw OI RSI.
Optionally apply an EMA on top of the smoothed OI RSI as a moving average signal line.
Key parameters:
Calculation Period – base RSI length for OI.
Smoothing Period (SMA) – extra smoothing on the RSI value.
EMA Period – EMA length on the smoothed OI RSI.
The result is:
oi_rsi – raw RSI of aggregated OI.
oi_rsi_s – SMA-smoothed OI RSI.
ma – EMA of the smoothed OI RSI.
Thresholds and extremes
You control three core thresholds:
Mid Point – central reference level, typically 50.
Extreme Upper Threshold – high-level OI RSI edge (for example 80).
Extreme Lower Threshold – low-level OI RSI edge (for example 20).
These thresholds are used for:
Reference lines or OB/OS zone fills.
Heatmap gradient bounds.
Background highlighting of extremes.
The Extreme Highlighting mode controls how extremes are interpreted:
None – do nothing special in extreme regions.
Mean-Rev – background turns red on high OI RSI and green on low OI RSI, framing extremes as contrarian zones.
Trend – background turns green on high OI RSI and red on low OI RSI, framing extremes as participation zones aligned with the prevailing move.
Reference lines and OB/OS zones
You can choose:
None – clean plotting without guides.
Basic Reference Lines – mid, upper and lower thresholds as simple gray horizontals.
OB/OS Levels – filled zones between:
Upper OB: from the upper threshold to 100, colored with the short/overbought color.
Lower OS: from 0 to the lower threshold, colored with the long/oversold color.
These guides help visually anchor the OI RSI within "normal" versus "extreme" regions.
Plotting modes
The Plotting Type input controls how OI RSI is drawn. All modes share the same underlying OI and RSI logic, but emphasise different aspects of the signal.
1) Line mode
This is the classic oscillator representation:
Plots the smoothed OI RSI as a simple line using RSI Line Color and RSI Line Width .
Optionally plots the EMA overlay on the same panel.
Works well when you want standard RSI-style signals on leverage flows: crosses of the midline, divergences versus price, and so on.
2) Colored Line mode
In this mode:
The OI RSI is plotted as a line, but its color is dynamic.
If the smoothed OI RSI is above the mid point, it uses the Long/OB Color .
If it is below the mid point, it uses the Short/OS Color .
This creates an instant visual regime switch between "bullish positioning pressure" and "bearish positioning pressure", while retaining the feel of a traditional RSI line.
3) Oscillator mode
Oscillator mode renders OI RSI as vertical columns around the mid level:
The smoothed OI RSI is plotted as columns using plot.style_columns .
The histogram base is fixed at 50, so bars extend above and below the mid line.
Bar color is dynamic, using long or short colors depending on which side of the mid point the value sits.
This representation makes impulse and compression in OI flows more obvious. It is especially useful when you want to focus on how quickly OI RSI is expanding or contracting around its neutral level. See:
4) Flag mode
Flag mode turns OI RSI and its EMA into a two-line band with a filled area between them:
The smoothed OI RSI and its EMA are both plotted.
A fill is drawn between them.
The fill color flips between the long color and the short color depending on whether OI RSI is above or below its EMA.
Black outlines are added to both lines to make the band clear against any background.
This creates a "flag" style region where:
Green fills show OI RSI leading its EMA, suggesting positive positioning momentum.
Red fills show OI RSI trailing below its EMA, suggesting negative positioning momentum.
Crossovers of the two lines can be read as shifts in OI momentum regime.
Flag mode is useful if you want a more structural view that combines both the level and slope behaviour of OI RSI. See:
5) Heatmap mode
Heatmap mode recasts OI RSI as a single-row gradient instead of a line:
A single row at level 1 is plotted using column style.
The color is pulled from a gradient between the lower and upper thresholds: Near the lower threshold it approaches the short/oversold color and near the upper threshold it approaches the long/overbought color.
The EMA overlay and reference lines are disabled in this mode to keep the panel clean.
This is a very compact way to track OI RSI state at a glance, especially when stacking it alongside other indicators. See:
OI RSI vertical meter
Beyond the main plot, the script can draw a small "thermometer" table showing the current OI RSI position from 0 to 100:
The meter is a two-column table with a configurable number of rows.
Row colors form an inverted gradient: red at the top (100) and green at the bottom (0).
The script clamps OI RSI between 0 and 100 and maps it to a row index.
An arrow marker "▶" is drawn next to the row corresponding to the current OI RSI value.
0 and 100 labels are printed at the ends of the scale for orientation.
You control:
Show OI RSI Meter – turn the meter on or off.
OI RSI Blocks – number of vertical blocks (granularity).
OI RSI Meter Position – panel anchor (top/bottom, left/center/right).
The meter is particularly helpful if you keep the main plot in a small panel but still want an intuitive strength gauge.
How to read it as a market pressure gauge
Because this is an RSI built on aggregated open interest, its extremes and regimes speak to positioning pressure rather than price alone:
High OI RSI (near or above the upper threshold) indicates that open interest has been increasing aggressively relative to its recent history. This often coincides with crowded leverage and a buildup of directional pressure.
Low OI RSI (near or below the lower threshold) indicates aggressive de-leveraging or closing of positions, often associated with flushes, forced unwinds or post-liquidation clean-ups.
Values around the mid point indicate more balanced positioning flows.
You can combine this with price action:
Price up with rising OI RSI suggests fresh leverage joining the move, a more persistent trend.
Price up with falling OI RSI suggests shorts covering or longs taking profit, more fragile upside.
Price down with rising OI RSI suggests aggressive new shorts or levered selling.
Price down with falling OI RSI suggests de-leveraging and potential exhaustion of the move.
Trading applications
Trend confirmation on leverage flows
Use OI RSI to confirm or question a price trend:
In an uptrend, rising OI RSI with values above the mid point indicates supportive leverage flows.
In an uptrend, repeated failures to lift OI RSI above mid point or persistent weakness suggest less committed participation.
In a downtrend, strong OI RSI on the downside points to aggressive shorting.
Mean reversion in positioning
Use thresholds and the Mean-Rev highlight mode:
When OI RSI spends extended time above the upper threshold, the crowd is extended on one side. That can set up squeeze risk in the opposite direction.
When OI RSI has been pinned low, it suggests heavy de-leveraging. Once price stabilises, a re-risking phase is often not far away.
Background colours in Mean-Rev mode help visually identify these periods.
Regime mapping with plotting modes
Different plotting modes give different perspectives:
Heatmap mode for dashboard-style use where you just need to know "hot", "neutral" or "cold" on OI flows at a glance.
Oscillator mode for short term impulses and compression reads around the mid line. See:
Flag mode for blending level and trend of OI RSI into a single banded visual. See:
Settings overview
RSI group
Plotting Type – None, Line, Colored Line, Oscillator, Flag, Heatmap.
Calculation Period – base RSI length for OI.
Smoothing Period (SMA) – smoothing on RSI.
Moving Average group
Show EMA – toggle EMA overlay (not used in heatmap).
EMA Period – length of EMA on OI RSI.
EMA Color – colour of EMA line.
Thresholds group
Mid Point – central reference.
Extreme Upper Threshold and Extreme Lower Threshold – OB/OS thresholds.
Select Reference Lines – none, basic lines or OB/OS zone fills.
Extreme Highlighting – None, Mean-Rev, Trend.
Extra Plotting and UI
RSI Line Color and RSI Line Width .
Long/OB Color and Short/OS Color .
Show OI RSI Meter , OI RSI Blocks , OI RSI Meter Position .
Open Interest Source
OI Units – COIN or USD.
Exchange toggles: Binance, Bybit, OKX, Bitget, Kraken, HTX, Deribit.
Notes
This is a positioning and pressure tool, not a complete system. It:
Models aggregated futures open interest across multiple centralized exchanges.
Transforms that OI into an RSI-style oscillator for better comparability across regimes.
Offers several visual modes to match different workflows, from detailed analysis to compact dashboards.
Use it to understand how leverage and positioning are evolving behind the price, to gauge when the crowd is stretched, and to decide whether to lean with or against that pressure. Attach it to your existing signals, not in place of them.
Also, please check out @NoveltyTrade for the OI Aggregation logic & pulling the data source!
Here is the original script:
High Volume Bars (Advanced)High Volume Bars (Advanced)
High Volume Bars (Advanced) is a Pine Script v6 indicator for TradingView that highlights bars with unusually high volume, with several ways to define “unusual”:
Classic: volume > moving average + N × standard deviation
Change-based: large change in volume vs previous bar
Z-score: statistically extreme volume values
Robust mode (optional): median + MAD, less sensitive to outliers
It can:
Recolor candles when volume is high
Optionally highlight the background
Optionally plot volume bands (center ± spread × multiplier)
⸻
1. How it works
At each bar the script:
Picks the volume source:
If Use Volume Change vs Previous Bar? is off → uses raw volume
If on → uses abs(volume - volume )
Computes baseline statistics over the chosen source:
Lookback bars
Moving average (SMA or EMA)
Standard deviation
Optionally replaces mean/std with robust stats:
Center = median (50th percentile)
Spread = MAD (median absolute deviation, scaled to approx σ)
Builds bands:
upper = center + spread * multiplier
lower = max(center - spread * multiplier, 0)
Flags a bar as “high volume” if:
It passes the mode logic:
Classic abs: volume > upper
Change mode: abs(volume - volume ) > upper
Z-score mode: z-score ≥ multiplier
AND the relative filter (optional): volume > average_volume * Min Volume vs Avg
AND it is past the first Skip First N Bars from the start of the chart
Colors the bar and (optionally) the background accordingly.
⸻
2. Inputs
2.1. Statistics
Lookback (len)
Number of bars used to compute the baseline stats (mean / median, std / MAD).
Typical values: 50–200.
StdDev / Z-Score Multiplier (mult)
How far from the baseline a bar must be to count as “high volume”.
In classic mode: volume > mean + mult × std
In z-score mode: z ≥ mult
Typical values: 1.0–2.5.
Use EMA Instead of SMA? (smooth_with_ema)
Off → uses SMA (slower but smoother).
On → uses EMA (reacts faster to recent changes).
Use Robust Stats (Median & MAD)? (use_robust)
Off → mean + standard deviation
On → median + MAD (less sensitive to a few insane spikes)
Useful for assets with occasional volume blow-ups.
⸻
2.2. Detection Mode
These inputs control how “unusual” is defined.
• Use Volume Change vs Previous Bar? (mode_change)
• Off (default) → uses absolute volume.
• On → uses abs(volume - volume ).
You then detect jumps in volume rather than absolute size.
Note: This is ignored if Z-Score mode is switched on (see below).
• Use Z-Score on Volume? (Overrides change) (mode_zscore)
• Off → high volume when raw value exceeds the upper band.
• On → computes z-score = (value − center) / spread and flags a bar as high when z ≥ multiplier.
Z-score mode can be combined with robust stats for more stable thresholds.
• Min Volume vs Avg (Filter) (min_rel_mult)
An extra filter to ignore tiny-volume bars that are statistically “weird” but not meaningful.
• 0.0 → no filter (all stats-based candidates allowed).
• 1.0 → high-volume bar must also be at least equal to average volume.
• 1.5 → bar must be ≥ 1.5 × average volume.
• Skip First N Bars (from start of chart) (skip_open_bars)
Skips the first N bars of the chart when evaluating high-volume conditions.
This is mostly a safety / cosmetic option to avoid weird behavior on very early bars or backfill.
⸻
2.3. Visuals
• Show Volume Bands? (show_bands)
• If on, plots:
• Upper band (upper)
• Lower band (lower)
• Center line (vol_center)
These are plotted on the same pane as the script (usually the price chart).
• Also Highlight Background? (use_bg)
• If on, fills the background on high-volume bars with High-Vol Background.
• High-Vol Bar Transparency (0–100) (bar_transp)
Controls the opacity of the high-volume bar colors (up / down).
• 0 → fully opaque
• 100 → fully transparent (no visible effect)
• Up Color (upColor) / Down Color (dnColor)
• Regular bar colors (non high-volume) for up and down bars.
• Up High-Vol Base Color (upHighVolBase) / Down High-Vol Base Color (dnHighVolBase)
Base colors used for high-volume up/down bars. Transparency is applied on top of these via bar_transp.
• High-Vol Background (bgHighVolColor)
Background color used when Also Highlight Background? is enabled.
⸻
3. What gets colored and how
• Bar color (barcolor)
• Up bar:
• High volume → Up High-Vol Color
• Normal volume → Up Color
• Down bar:
• High volume → Down High-Vol Color
• Normal volume → Down Color
• Flat bar → neutral gray
• Background color (bgcolor)
• If Also Highlight Background? is on, high-volume bars get High-Vol Background.
• Otherwise, background is unchanged.
⸻
4. Alerts
The indicator exposes three alert conditions:
• High Volume Bar
Triggers whenever is_high is true (up or down).
• High Volume Up Bar
Triggers only when is_high is true and the bar closed up (close > open).
• High Volume Down Bar
Triggers only when is_high is true and the bar closed down (close < open).
You can use these in TradingView’s “Create Alert” dialog to:
• Get notified of potential breakout / exhaustion bars.
• Trigger webhook events for bots / custom infra.
⸻
5. Recommended presets
5.1. “Classic” high-volume detector (closest to original)
• Lookback: 150–200
• StdDev / Z-Score Multiplier: 1.0–1.5
• Use EMA Instead of SMA?: off
• Use Robust Stats?: off
• Use Volume Change vs Previous Bar?: off
• Use Z-Score on Volume?: off
• Min Volume vs Avg (Filter): 0.0–1.0
Behavior: Flags bars whose volume is notably above the recent average (plus a bit of noise filtering), same spirit as your initial implementation.
⸻
5.2. Volatility-aware (Z-score) mode
• Lookback: 100–200
• StdDev / Z-Score Multiplier: 1.5–2.0
• Use EMA Instead of SMA?: on
• Use Robust Stats?: on (if asset has huge spikes)
• Use Volume Change vs Previous Bar?: off (ignored anyway in z-score mode)
• Use Z-Score on Volume?: on
• Min Volume vs Avg (Filter): 0.5–1.0
Behavior: Flags bars that are “statistically extreme” relative to recent volume behavior, not just absolutely large. Good for assets where baseline volume drifts over time.
⸻
5.3. “Wake-up bar” (volume acceleration)
• Lookback: 50–100
• StdDev / Z-Score Multiplier: 1.0–1.5
• Use EMA Instead of SMA?: on
• Use Robust Stats?: optional
• Use Volume Change vs Previous Bar?: on
• Use Z-Score on Volume?: off
• Min Volume vs Avg (Filter): 0.5–1.0
Behavior: Emphasis on sudden increases in volume rather than absolute size – useful to catch “first active bar” after a quiet period.
⸻
6. Limitations / notes
• Time-of-day effects
The script currently treats the entire chart as one continuous “session”. On 24/7 markets (crypto) this is fine. For regular-session assets (equities, futures), volume naturally spikes at open/close; you may want to:
• Use a shorter Lookback, or
• Add a session-aware filter in a future iteration.
• Illiquid symbols
On very low-liquidity symbols, robust stats (Use Robust Stats) and a non-zero Min Volume vs Avg can help avoid “everything looks extreme” problems.
• Overlay behavior
overlay = true means:
• Bars are recolored on the price pane.
• Volume bands are also drawn on the price pane if enabled.
If you want a dedicated panel for the bands, duplicate the logic in a separate script with overlay = false.
Volatility-Targeted Momentum Portfolio [BackQuant]Volatility-Targeted Momentum Portfolio
A complete momentum portfolio engine that ranks assets, targets a user-defined volatility, builds long, short, or delta-neutral books, and reports performance with metrics, attribution, Monte Carlo scenarios, allocation pie, and efficiency scatter plots. This description explains the theory and the mechanics so you can configure, validate, and deploy it with intent.
Table of contents
What the script does at a glance
Momentum, what it is, how to know if it is present
Volatility targeting, why and how it is done here
Portfolio construction modes: Long Only, Short Only, Delta Neutral
Regime filter and when the strategy goes to cash
Transaction cost modelling in this script
Backtest metrics and definitions
Performance attribution chart
Monte Carlo simulation
Scatter plot analysis modes
Asset allocation pie chart
Inputs, presets, and deployment checklist
Suggested workflow
1) What the script does at a glance
Pulls a list of up to 15 tickers, computes a simple momentum score on each over a configurable lookback, then volatility-scales their bar-to-bar return stream to a target annualized volatility.
Ranks assets by raw momentum, selects the top 3 and bottom 3, builds positions according to the chosen mode, and gates exposure with a fast regime filter.
Accumulates a portfolio equity curve with risk and performance metrics, optional benchmark buy-and-hold for comparison, and a full alert suite.
Adds visual diagnostics: performance attribution bars, Monte Carlo forward paths, an allocation pie, and scatter plots for risk-return and factor views.
2) Momentum: definition, detection, and validation
Momentum is the tendency of assets that have performed well to continue to perform well, and of underperformers to continue underperforming, over a specific horizon. You operationalize it by selecting a horizon, defining a signal, ranking assets, and trading the leaders versus laggards subject to risk constraints.
Signal choices . Common signals include cumulative return over a lookback window, regression slope on log-price, or normalized rate-of-change. This script uses cumulative return over lookback bars for ranking (variable cr = price/price - 1). It keeps the ranking simple and lets volatility targeting handle risk normalization.
How to know momentum is present .
Leaders and laggards persist across adjacent windows rather than flipping every bar.
Spread between average momentum of leaders and laggards is materially positive in sample.
Cross-sectional dispersion is non-trivial. If everything is flat or highly correlated with no separation, momentum selection will be weak.
Your validation should include a diagnostic that measures whether returns are explained by a momentum regression on the timeseries.
Recommended diagnostic tool . Before running any momentum portfolio, verify that a timeseries exhibits stable directional drift. Use this indicator as a pre-check: It fits a regression to price, exposes slope and goodness-of-fit style context, and helps confirm if there is usable momentum before you force a ranking into a flat regime.
3) Volatility targeting: purpose and implementation here
Purpose . Volatility targeting seeks a more stable risk footprint. High-vol assets get sized down, low-vol assets get sized up, so each contributes more evenly to total risk.
Computation in this script (per asset, rolling):
Return series ret = log(price/price ).
Annualized volatility estimate vol = stdev(ret, lookback) * sqrt(tradingdays).
Leverage multiplier volMult = clamp(targetVol / vol, 0.1, 5.0).
This caps sizing so extremely low-vol assets don’t explode weight and extremely high-vol assets don’t go to zero.
Scaled return stream sr = ret * volMult. This is the per-bar, risk-adjusted building block used in the portfolio combinations.
Interpretation . You are not levering your account on the exchange, you are rescaling the contribution each asset’s daily move has on the modeled equity. In live trading you would reflect this with position sizing or notional exposure.
4) Portfolio construction modes
Cross-sectional ranking . Assets are sorted by cr over the chosen lookback. Top and bottom indices are extracted without ties.
Long Only . Averages the volatility-scaled returns of the top 3 assets: avgRet = mean(sr_top1, sr_top2, sr_top3). Position table shows per-asset leverages and weights proportional to their current volMult.
Short Only . Averages the negative of the volatility-scaled returns of the bottom 3: avgRet = mean(-sr_bot1, -sr_bot2, -sr_bot3). Position table shows short legs.
Delta Neutral . Long the top 3 and short the bottom 3 in equal book sizes. Each side is sized to 50 percent notional internally, with weights within each side proportional to volMult. The return stream mixes the two sides: avgRet = mean(sr_top1,sr_top2,sr_top3, -sr_bot1,-sr_bot2,-sr_bot3).
Notes .
The selection metric is raw momentum, the execution stream is volatility-scaled returns. This separation is deliberate. It avoids letting volatility dominate ranking while still enforcing risk parity at the return contribution stage.
If everything rallies together and dispersion collapses, Long Only may behave like a single beta. Delta Neutral is designed to extract cross-sectional momentum with low net beta.
5) Regime filter
A fast EMA(12) vs EMA(21) filter gates exposure.
Long Only active when EMA12 > EMA21. Otherwise the book is set to cash.
Short Only active when EMA12 < EMA21. Otherwise cash.
Delta Neutral is always active.
This prevents taking long momentum entries during obvious local downtrends and vice versa for shorts. When the filter is false, equity is held flat for that bar.
6) Transaction cost modelling
There are two cost touchpoints in the script.
Per-bar drag . When the regime filter is active, the per-bar return is reduced by fee_rate * avgRet inside netRet = avgRet - (fee_rate * avgRet). This models proportional friction relative to traded impact on that bar.
Turnover-linked fee . The script tracks changes in membership of the top and bottom baskets (top1..top3, bot1..bot3). The intent is to charge fees when composition changes. The template counts changes and scales a fee by change count divided by 6 for the six slots.
Use case: increase fee_rate to reflect taker fees and slippage if you rebalance every bar or trade illiquid assets. Reduce it if you rebalance less often or use maker orders.
Practical advice .
If you rebalance daily, start with 5–20 bps round-trip per switch on liquid futures and adjust per venue.
For crypto perp microcaps, stress higher cost assumptions and add slippage buffers.
If you only rotate on lookback boundaries or at signals, use alert-driven rebalances and lower per-bar drag.
7) Backtest metrics and definitions
The script computes a standard set of portfolio statistics once the start date is reached.
Net Profit percent over the full test.
Max Drawdown percent, tracked from running peaks.
Annualized Mean and Stdev using the chosen trading day count.
Variance is the square of annualized stdev.
Sharpe uses daily mean adjusted by risk-free rate and annualized.
Sortino uses downside stdev only.
Omega ratio of sum of gains to sum of losses.
Gain-to-Pain total gains divided by total losses absolute.
CAGR compounded annual growth from start date to now.
Alpha, Beta versus a user-selected benchmark. Beta from covariance of daily returns, Alpha from CAPM.
Skewness of daily returns.
VaR 95 linear-interpolated 5th percentile of daily returns.
CVaR average of the worst 5 percent of daily returns.
Benchmark Buy-and-Hold equity path for comparison.
8) Performance attribution
Cumulative contribution per asset, adjusted for whether it was held long or short and for its volatility multiplier, aggregated across the backtest. You can filter to winners only or show both sides. The panel is sorted by contribution and includes percent labels.
9) Monte Carlo simulation
The panel draws forward equity paths from either a Normal model parameterized by recent mean and stdev, or non-parametric bootstrap of recent daily returns. You control the sample length, number of simulations, forecast horizon, visibility of individual paths, confidence bands, and a reproducible seed.
Normal uses Box-Muller with your seed. Good for quick, smooth envelopes.
Bootstrap resamples realized returns, preserving fat tails and volatility clustering better than a Gaussian assumption.
Bands show 10th, 25th, 75th, 90th percentiles and the path mean.
10) Scatter plot analysis
Four point-cloud modes, each plotting all assets and a star for the current portfolio position, with quadrant guides and labels.
Risk-Return Efficiency . X is risk proxy from leverage, Y is expected return from annualized momentum. The star shows the current book’s composite.
Momentum vs Volatility . Visualizes whether leaders are also high vol, a cue for turnover and cost expectations.
Beta vs Alpha . X is a beta proxy, Y is risk-adjusted excess return proxy. Useful to see if leaders are just beta.
Leverage vs Momentum . X is volMult, Y is momentum. Shows how volatility targeting is redistributing risk.
11) Asset allocation pie chart
Builds a wheel of current allocations.
Long Only, weights are proportional to each long asset’s current volMult and sum to 100 percent.
Short Only, weights show the short book as positive slices that sum to 100 percent.
Delta Neutral, 50 percent long and 50 percent short books, each side leverage-proportional.
Labels can show asset, percent, and current leverage.
12) Inputs and quick presets
Core
Portfolio Strategy . Long Only, Short Only, Delta Neutral.
Initial Capital . For equity scaling in the panel.
Trading Days/Year . 252 for stocks, 365 for crypto.
Target Volatility . Annualized, drives volMult.
Transaction Fees . Per-bar drag and composition change penalty, see the modelling notes above.
Momentum Lookback . Ranking horizon. Shorter is more reactive, longer is steadier.
Start Date . Ensure every symbol has data back to this date to avoid bias.
Benchmark . Used for alpha, beta, and B&H line.
Diagnostics
Metrics, Equity, B&H, Curve labels, Daily return line, Rolling drawdown fill.
Attribution panel. Toggle winners only to focus on what matters.
Monte Carlo mode with Normal or Bootstrap and confidence bands.
Scatter plot type and styling, labels, and portfolio star.
Pie chart and labels for current allocation.
Presets
Crypto Daily, Long Only . Lookback 25, Target Vol 50 percent, Fees 10 bps, Regime filter on, Metrics and Drawdown on. Monte Carlo Bootstrap with Recent 200 bars for bands.
Crypto Daily, Delta Neutral . Lookback 25, Target Vol 50 percent, Fees 15–25 bps, Regime filter always active for this mode. Use Scatter Risk-Return to monitor efficiency and keep the star near upper left quadrants without drifting rightward.
Equities Daily, Long Only . Lookback 60–120, Target Vol 15–20 percent, Fees 5–10 bps, Regime filter on. Use Benchmark SPX and watch Alpha and Beta to keep the book from becoming index beta.
13) Suggested workflow
Universe sanity check . Pick liquid tickers with stable data. Thin assets distort vol estimates and fees.
Check momentum existence . Run on your timeframe. If slope and fit are weak, widen lookback or avoid that asset or timeframe.
Set risk budget . Choose a target volatility that matches your drawdown tolerance. Higher target increases turnover and cost sensitivity.
Pick mode . Long Only for bull regimes, Short Only for sustained downtrends, Delta Neutral for cross-sectional harvesting when index direction is unclear.
Tune lookback . If leaders rotate too often, lengthen it. If entries lag, shorten it.
Validate cost assumptions . Increase fee_rate and stress Monte Carlo. If the edge vanishes with modest friction, refine selection or lengthen rebalance cadence.
Run attribution . Confirm the strategy’s winners align with intuition and not one unstable outlier.
Use alerts . Enable position change, drawdown, volatility breach, regime, momentum shift, and crash alerts to supervise live runs.
Important implementation details mapped to code
Momentum measure . cr = price / price - 1 per symbol for ranking. Simplicity helps avoid overfitting.
Volatility targeting . vol = stdev(log returns, lookback) * sqrt(tradingdays), volMult = clamp(targetVol / vol, 0.1, 5), sr = ret * volMult.
Selection . Extract indices for top1..top3 and bot1..bot3. The arrays rets, scRets, lev_vals, and ticks_arr track momentum, scaled returns, leverage multipliers, and display tickers respectively.
Regime filter . EMA12 vs EMA21 switch determines if the strategy takes risk for Long or Short modes. Delta Neutral ignores the gate.
Equity update . Equity multiplies by 1 + netRet only when the regime was active in the prior bar. Buy-and-hold benchmark is computed separately for comparison.
Tables . Position tables show current top or bottom assets with leverage and weights. Metric table prints all risk and performance figures.
Visualization panels . Attribution, Monte Carlo, scatter, and pie use the last bars to draw overlays that update as the backtest proceeds.
Final notes
Momentum is a portfolio effect. The edge comes from cross-sectional dispersion, adequate risk normalization, and disciplined turnover control, not from a single best asset call.
Volatility targeting stabilizes path but does not fix selection. Use the momentum regression link above to confirm structure exists before you size into it.
Always test higher lag costs and slippage, then recheck metrics, attribution, and Monte Carlo envelopes. If the edge persists under stress, you have something robust.
TopBot [CHE] TopBot — Structure pivots with buffered acceptance and gradient trend visualization
Summary
TopBot detects swing structure from confirmed pivot highs and lows, derives support and resistance levels, and switches trend only after a buffered and accepted break. It renders labels for recent structure points, maintains dynamic support and resistance lines that freeze on contact, and colors candles using a gradient that reflects consecutive trend persistence. The gradient communicates strength without extra panels, while the buffered acceptance reduces fragile flips around key levels. Everything runs in the main chart for immediate context.
Motivation: Why this design?
Classical swing tools often flip on single-bar spikes and produce lines that extend forever without acknowledging when price invalidates them. This script addresses that by requiring a user-controlled buffer and a run of consecutive closes before changing trend, while also freezing lines once price interacts with them. The gradient color layer communicates regime persistence so users can quickly judge whether a move is maturing or just starting.
What’s different vs. standard approaches?
Baseline reference: Simple pivot labeling and unbuffered break-of-structure tools.
Architecture differences:
Buffered level testing using ticks, percent, or ATR.
Acceptance logic that requires multiple consecutive closes.
Synchronized structure labeling with a single Top and Bottom within the active set.
Progressive support and resistance management that freezes lines on first contact.
Gradient candle and wick coloring driven by consecutive trend counts with windowed normalization and gamma control.
Practical effect: Fewer whipsaw flips, clearer status of active levels, and visual feedback about trend persistence without a secondary pane.
How it works (technical)
The script confirms swing points using left and right bar pivots, then forms a current structure window to classify each pivot as higher high, lower high, higher low, or lower low. Recent labels are trimmed to a user cap, and a postprocess step ensures one highest and one lowest label while preserving side information for the others. Support updates on higher low events, resistance on lower high events. Trend flips only after the close has moved beyond the active level by a chosen buffer and this condition holds for a chosen number of consecutive bars. Lines for new levels extend to the right and freeze once price touches them. A running count of consecutive trend bars produces a strength score, which is normalized over a rolling window, shaped by gamma, and mapped to user-defined dark and neon colors for both up and down regimes. Wick coloring uses `plotcandle`; fallback bar coloring uses `barcolor`. No higher-timeframe data is requested. Signals confirm only after the right-bar lookback of the pivot function.
Parameter Guide
Left Bars / Right Bars (default five each): Pivot sensitivity. Larger values confirm later and reduce noise; smaller values respond faster with more noise.
Draw S/R Lines (default true): Enables support and resistance line creation and updates.
Support / Resistance Colors (lime, red): Line colors for each side.
Line Style (Solid, Dashed, Dotted; default Dotted) and Width (default three): Visual style of S/R lines.
Max Labels & Lines (default ten): Cap for objects to control clutter and resource usage.
Change Bar Color (default true), Up/Down colors (blue, black): Fallback bar coloring when gradients or wick coloring are disabled.
Show Neutral Candles (default false): Optional coloring when no trend is active.
Enable Gradient Bar Colors (default true): Turns on gradient body coloring from the strength score.
Enable Wick Coloring (default true): Colors wicks and borders using `plotcandle`.
Collection Period (default one hundred): Rolling window used to scale the strength score. Shorter windows react faster but vary more.
Gamma Bars / Gamma Plots (defaults zero point seven and zero point eight): Shapes perceived contrast of bar and wick gradients. Lower values brighten early; higher values compress until stronger runs appear.
Gradient Transparency / Wick Transparency (default zero): Visual transparency for bodies and wicks.
Up/Down Trend Dark and Neon Colors: Endpoints for gradient mapping in each regime.
Acceptance closes (n) (default two): Number of consecutive closes beyond a level required before trend flips. Larger values reduce false breaks but react later.
Break buffer (None, Ticks, Percent, ATR; default ATR) and Value (default zero point five) and ATR Len (default fourteen): Defines the safety margin beyond the level. ATR mode adapts to volatility; Percent and Ticks are static.
Reading & Interpretation
Labels: “Top” and “Bottom” mark the most extreme points in the active set; “LT” and “HB” indicate side labels for lower top and higher bottom.
Lines: New support or resistance is drawn when structure confirms. A line freezes once price touches it, signaling that the dynamic phase ended.
Trend: Internal state switches to up or down only after buffered acceptance.
Colors: Brighter neon tones indicate stronger and more persistent runs; darker tones suggest early or weakening runs. When gradients are off, fallback bar colors indicate trend sign.
Practical Workflows & Combinations
Trend following: Wait for a buffered and accepted break through the most recent level, then use gradient intensity to stage entries or scale-ins.
Structure-first filtering: Trade only in the direction of the last accepted trend while price remains above support or below resistance.
Exits and stops: Consider exiting on loss of gradient intensity combined with a return through the most recent structure level.
Multi-asset / Multi-timeframe: Works on liquid symbols across common timeframes. Use larger pivot bars and higher acceptance on lower timeframes. No built-in higher-timeframe aggregation is used.
Behavior, Constraints & Performance
Repaint/confirmation: Pivot confirmation waits for the right bar window; trend acceptance is based on closes and can change during a live bar. Final signals stabilize on bar close.
security/HTF: Not used. No cross-timeframe data.
Resources: Arrays and loops are used for labels, lines, and structure search up to a capped historical span. Object counts are clamped by user input and platform limits.
Known limits: Delayed confirmation at sharp turns due to pivot windows; rapid gaps can jump over buffers; gradient scaling depends on the chosen collection period.
Sensible Defaults & Quick Tuning
Start with the defaults: pivot windows at five, ATR buffer with value near one half, acceptance at two, collection period near one hundred, gamma near zero point seven to zero point eight.
Too many flips: increase acceptance, increase buffer value, or increase pivot windows.
Too sluggish: reduce acceptance, reduce buffer value, or reduce pivot windows.
Colors too flat: lower gamma or shorten the collection period.
Visual clutter: reduce the max labels and lines cap or disable wicks.
What this indicator is—and isn’t
This is a visualization and signal layer that encodes swing structure, level state, and regime persistence. It is not a complete trading system, not predictive, and does not manage orders. Use it with broader context such as higher timeframe structure, session behavior, and defined risk controls.
Disclaimer
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Do not use this indicator on Heikin-Ashi, Renko, Kagi, Point-and-Figure, or Range charts, as these chart types can produce unrealistic results for signal markers and alerts.
Best regards and happy trading
Chervolino
Acknowledgment
Thanks to LonesomeTheBlue for the fantastic and inspiring "Higher High Lower Low Strategy" .
Original script:
Credit for the original concept and implementation goes to the author; any adaptations or errors here are mine.
Market Structure Trailing Stop MTF [Inspired by LuxAlgo]# Market Structure Trailing Stop MTF
**OPEN-SOURCE SCRIPT**
*208k+ views on original · Modified for MTF Support*
This indicator is a direct adaptation of the renowned **Market Structure Trailing Stop** by **LuxAlgo** (original script: [Market Structure Trailing Stop ]()). The core logic remains untouched, providing dynamic trailing stops based on market structure breaks (CHoCH/BOS). The **only modification** is the addition of **Multi-Timeframe (MTF) support**, allowing users to apply the trailing stops and structures from **higher timeframes (HTF)** directly on their current chart. This enhances usability for traders analyzing cross-timeframe confluence without switching charts.
**Special thanks to LuxAlgo** for releasing this powerful open-source tool under CC BY-NC-SA 4.0. Your contributions to the TradingView community have inspired countless traders—grateful for the solid foundation!
## 🔶 How the Script Works: A Deep Dive
At its heart, this indicator detects **market structure shifts** (bullish or bearish breaks of swing highs/lows) and uses them to generate **adaptive trailing stops**. These stops trail the price while protecting profits and acting as dynamic support/resistance levels. The MTF enhancement pulls this logic from user-specified higher timeframes, overlaying HTF structures and stops on the lower timeframe chart for seamless multi-timeframe analysis.
### Core Logic (Unchanged from LuxAlgo's Original)
1. **Pivot Detection**:
- Uses `ta.pivothigh()` and `ta.pivotlow()` with a user-defined lookback (`length`) to identify swing highs (PH) and lows (PL).
- Coordinates (price `y` and bar index/time `x`) are stored in persistent variables (`var`) for tracking recent pivots.
2. **Market Structure Detection**:
- **Bullish Structure (BOS/CHoCH)**: Triggers when `close > recent PH` (break above swing high).
- If `resetOn = 'CHoCH'`, resets only on major shifts (Change of Character); otherwise, on all breaks.
- Sets trend state `os = 1` (bullish) and highlights the break with a horizontal line (dashed for CHoCH, dotted for BOS).
- Initializes trailing stop at the local minimum (lowest low since the pivot) using a backward loop: `btm = math.min(low , btm)`.
- **Bearish Structure**: Triggers when `close < recent PL`, mirroring the bullish logic (`os = -1`, local maximum for stop).
- Structure state `ms` tracks the break type (1 for bull, -1 for bear, 0 neutral), resetting based on user settings.
3. **Trailing Stop Calculation**:
- Tracks **trailing max/min**:
- On new bull structure: Reset `max = close`.
- On new bear: Reset `min = close`.
- Otherwise: `max = math.max(close, max)` / `min = math.min(close, min)`.
- **Stop Adjustment** (the "trailing" magic):
- On fresh structure: `ts = btm` (bull) or `top` (bear).
- In ongoing trend: Increment/decrement by a percentage of the max/min change:
- Bull: `ts += (max - max ) * (incr / 100)`
- Bear: `ts += (min - min ) * (incr / 100)`
- This creates a **ratcheting effect**: Stops move favorably with the trend but never against it, converging toward price at a controlled rate.
- **Visuals**:
- Plots `ts` line colored by trend (teal for bull, red for bear).
- Fills area between `close` and `ts` (orange on retracements).
- Draws structure lines from pivot to break point.
4. **Edge Cases**:
- Variables like `ph_cross`/`pl_cross` prevent multiple triggers on the same pivot.
- Neutral state (`ms = 0`) preserves prior `max/min` until a new structure.
### MTF Enhancement (Our Addition)
- **request.security() Integration**:
- Wraps the entire core function `f()` in a security call for each timeframe (`tf1`, `tf2`).
- Returns HTF values (e.g., `ts1`, `os1`, structure times/prices) to the chart's context.
- Uses `lookahead=barmerge.lookahead_off` for accurate historical repainting-free data.
- Structures are drawn using `xloc.bar_time` to align HTF lines precisely on the LTF chart.
- **Multi-Output Handling**:
- Separate plots/fills/lines for each TF (e.g., `plot_ts1`, `plot_ts2`).
- Colors and toggles per TF to distinguish HTF1 (e.g., teal/red) from HTF2 (e.g., blue/maroon).
- **Benefits**: Spot HTF bias on LTF entries, e.g., enter longs only if both TF1 (1H) and TF2 (4H) show bullish `os=1`.
This keeps the script lightweight—**no repainting, max 500 lines**, and fully compatible with LuxAlgo's original behavior when TFs are set to the chart's timeframe.
## 🔶 SETTINGS
### Core Parameters
- **Pivot Lookback** (`length = 14`): Bars left/right for pivot detection. Higher = smoother structures, fewer signals; lower = more noise.
- **Increment Factor %** (`incr = 100`): Speed of stop convergence (0-∞). 100% = full ratchet (mirrors max/min exactly); <100% = slower trail, reduces whipsaws.
- **Reset Stop On** (`'CHoCH'`): `'CHoCH'` = Reset only on major reversals (dashed lines); `'All'` = Reset on every BOS/CHoCH (tighter stops).
### MTF Support
- **Timeframe 1** (`tf1 = ""`): HTF for first set (e.g., "1H"). Empty = current chart.
- **Timeframe 2** (`tf2 = ""`): Second HTF (e.g., "4H"). Enables dual confluence.
### Display Toggles
- **Show Structures** (`true`): Draws horizontal lines for breaks (per TF colors).
- **Show Trailing Stop TF1/TF2** (`true`): Plots the stop line.
- **Show Fill TF1/TF2** (`true`): Area fill between close and stop.
### Candle Coloring (Optional)
- **Color Candles** (`false`): Enables custom `plotcandle` for body/wick/border.
- **Candle Color Based On TF** (`"None"`): `"TF1"`, `"TF2"`, or none. Colors bull trend green, bear red.
- **Candle Colors**: Separate inputs for bull/bear body, wick, border (e.g., solid green body, transparent wick).
### Alerts
- **Enable MS Break Alerts** (`false`): Notifies on structure breaks (bull/bear per TF) **only on bar close** (`barstate.isconfirmed` + `alert.freq_once_per_bar_close`).
- **Enable Stop Hit Alerts** (`false`): Triggers on stop breaches (long/short per TF), using `ta.crossunder/crossover`.
### Colors
- **TF1 Colors**: Bullish (teal), Bearish (red), Retracement (orange).
- **TF2 Colors**: Bullish (blue), Bearish (maroon), Retracement (orange).
- **Area Transparency** (`80`): Fill opacity (0-100).
## 🔶 USAGE
Trailing stops shine in **trend-following strategies**:
- **Entries**: Use structure breaks as signals (e.g., long on bullish BOS from HTF1).
- **Exits**: Trail stops for profit-locking; alert on hits for automation.
- **Confluence**: Overlay HTF1 (e.g., 1H) for bias, HTF2 (e.g., Daily) for major levels—enter LTF only on alignment.
- **Risk Management**: Lower `incr` avoids early stops in chop; reset on `'All'` for aggressive trailing.
! (i.imgur.com)
*HTF1 shows bullish structure (teal line), trailing stop ratchets up—long entry confirmed on LTF pullback.*
! (i.imgur.com)
*TF1 (blue) bearish, TF2 (red) neutral—avoid shorts until alignment.*
! (i.imgur.com)
*Colored based on TF1 trend: Green bodies on bull `os=1`.*
Pro Tip: Test on demo—pair with LuxAlgo's other tools like Smart Money Concepts for full structure ecosystem.
## 🔶 DETAILS: Mathematical Breakdown
On bullish break:
- Local min: `btm = ta.lowest(n - ph_x)` (optimized loop equivalent).
- Stop init: `ts = btm`.
- Update: `Δmax = max - max `, `ts_new = ts + Δmax * (incr/100)`.
Bearish mirrors with `Δmin` (negative, so decrements `ts`).
In MTF: HTF `time` aligns lines via `line.new(htf_time, level, current_time, level, xloc.bar_time)`.
No logs/math libs needed—pure Pine v5 efficiency.
## Disclaimer
This is for educational purposes. Not financial advice. Backtest thoroughly. Original by LuxAlgo—modify at your risk. See TradingView's (www.tradingview.com). Licensed under CC BY-NC-SA 4.0 (attribution to LuxAlgo required).
Opening Range Break LRSThis script is designed for a trend-following, opening range breakout strategy. The main idea is to only trade breakouts that happen in the same direction as the short-term trend, which the script identifies using a linear regression slope.
1. Identify the Short-Term Trend
This is the first and most important step. The script does this for you using the Linear Regression and the bar coloring.
• If the bars are colored BLUE: The linear regression slope is positive. This means the script considers the short-term trend to be UP. A trader using this script would only look for long (buy) trades.
• If the bars are colored YELLOW: The linear regression slope is negative. This means the script considers the short-term trend to be DOWN. A trader using this script would only look for short (sell) trades.
This filter is designed to prevent you from trading a "false breakout" against the immediate momentum.
2. Watch the Opening Ranges Form
At the start of the trading session (8:30 AM by default), the script will begin drawing boxes for the 5, 15, 30, and 60-minute opening ranges you've enabled.
• The 5-minute box (e.g., gray) will be set after the 8:30 - 8:35 period.
• The 15-minute box (e.g., blue) will be set after the 8:30 - 8:45 period.
• ...and so on.
These boxes, which extend for the rest of the day, represent the key high and low levels established at the open. The "Live Box Extension" input simply keeps the right edge of the box a few bars away from the current price so you can see it clearly.
3. Look for a Filtered Breakout Signal
This is where the trend filter (Step 1) and the range boxes (Step 2) come together.
Bullish Trade Example (Long):
1. A trader sees the bars are colored BLUE (uptrend). They are now only looking for a break above one of the ORB highs.
2. They will ignore any break below the ORB lows, as that would be trading against the trend filter.
3. The price moves up and finally closes above the 15-minute ORB high.
4. The script will plot a green "Break 15" label. This is the trader's signal to enter a long trade.
Bearish Trade Example (Short):
1. A trader sees the bars are colored YELLOW (downtrend). They are now only looking for a break below one of the ORB lows.
2. They will ignore any break above the ORB highs.
3. The price moves down and closes below the 5-minute ORB low.
4. The script will plot a red "Break 5" label. This is the trader's signal to enter a short trade.
4. Use Multiple Timeframes for Context
The real power of this script is seeing all the ranges at once. A trader wouldn't just trade them in isolation.
• Confirmation: A "Break 5" signal is a quick, early signal. But if the price also breaks the "15" and "30" minute highs, it signals much stronger bullish consensus, which might encourage the trader to hold the trade longer.
• Support & Resistance: The other ORB levels act as a map for the day.
o As Targets: If a trader takes a "Break 15" long signal, the 30-minute ORB high and 60-minute ORB high become logical profit targets.
o As Warning Signs: If the price gives a "Break 5" long signal but is struggling right under the 15-minute high, a trader might wait for that 15-minute level to break before entering, seeing it as a key resistance level.
Summary: A Trader's Workflow
1. Morning (8:30 AM): Watch the script. What color are the bars? (Blue = longs only, Yellow = shorts only).
2. Wait: Let the 5, 15, 30, and 60-minute ranges form. The boxes will be drawn on the chart.
3. Execute: Wait for a "Break" signal (a label) that matches your trend direction.
4. Manage: Use the other ORB levels as potential profit targets or as confirmation of the move's strength.
5. Single Signal: The "Single Signal Only" input, if checked, ensures they only get one signal per timeframe (e.g., one "Break 15" long, and that's it for the day), which helps prevent over-trading in choppy conditions.
ACR(Average Candle Range) With TargetsWhat is ACR?
The Average Candle Range (ACR) is a custom volatility metric that calculates the mean distance between the high and low of a set number of past candles. ACR focuses only on the actual candle range (high - low) of specific past candles on a chosen timeframe.
This script calculates and visualizes the Average Candle Range (ACR) over a user-defined number of candles on a custom timeframe. It displays a table of recent range values, plots dynamic bullish and bearish target levels, and marks the start of each new candle with a vertical line. All calculations update in real time as price action develops. This script was inspired by the “ICT ADR Levels - Judas x Daily Range Meter°” by toodegrees.
Key Features
Custom Timeframe Selection: Choose any timeframe (e.g., 1D, 4H, 15m) for analysis.
User-Defined Lookback: Calculate the average range across 1 to 10 previous candles.
Dynamic Targets:
Bullish Target: Current candle low + ACR.
Bearish Target: Current candle high – ACR.
Live Updates: Targets adjust intrabar as highs or lows change during the current candle.
Candle Start Markers: Vertical lines denote the open of each new candle on the selected timeframe.
Floating Range Table:
Displays the current ACR value.
Lists individual ranges for the previous five candles.
Extend Target Lines: Choose to extend bullish and bearish target levels fully across the screen.
Global Visibility Controls: Toggle on/off all visual elements (targets, vertical lines, and table) for a cleaner view.
How It Works
At each new candle on the user-selected timeframe, the script:
Draws a vertical line at the candle’s open.
Recalculates the ACR based on the inputted previous number of candles.
Plots target levels using the current candle's developing high and low values.
Limitation
Once the price has already moved a full ACR in the opposite direction from your intended trade, the associated target loses its practical value. For example, if you intended to trade long but the bearish ACR target is hit first, the bullish target is no longer a reliable reference for that session.
Use Case
This tool is designed for traders who:
Want to visualize the average movement range of candles over time.
Use higher or lower timeframe candles as structural anchors.
Require real-time range-based price levels for intraday or swing decision-making.
This script does not generate entry or exit signals. Instead, it supports range awareness and target projection based on historical candle behavior.
Key Difference from Similar Tools
While this script was inspired by “ICT ADR Levels - Judas x Daily Range Meter°” by toodegrees, it introduces a major enhancement: the ability to customize the timeframe used for calculating the range. Most ADR or candle-range tools are locked to a single timeframe (e.g., daily), but this version gives traders full control over the analysis window. This makes it adaptable to a wide range of strategies, including intraday and swing trading, across any market or asset.
Ultimate JLines & MTF EMA (Configurable, Labels)## Ultimate JLines & MTF EMA (Configurable, Labels) — Script Overview
This Pine Script is a comprehensive, multi-timeframe indicator based on J Trader concepts. It overlays various Exponential Moving Averages (EMAs), VWAP, inside bar highlights, and dynamic labels onto price charts. The script is highly configurable, allowing users to tailor which elements are displayed and how they appear.
### Key Features
#### 1. **Multi-Timeframe JLines**
- **JLines** are pairs of EMAs (default lengths: 72 and 89) calculated on several timeframes:
- 1 minute (1m)
- 3 minutes (3m)
- 5 minutes (5m)
- 1 hour (1h)
- Custom timeframe (user-selectable)
- Each pair can be visualized as individual lines and as a "cloud" (shaded area between the two EMAs).
- Colors and opacity for each timeframe are user-configurable.
#### 2. **200 EMA on Multiple Timeframes**
- Plots the 200-period EMA on selectable timeframes: 1m, 3m, 5m, 15m, and 1h.
- Each can be toggled independently and colored as desired.
#### 3. **9 EMA and VWAP**
- Plots a 9-period EMA, either on the chart’s current timeframe or a user-specified one.
- Plots VWAP (Volume-Weighted Average Price) for additional trend context.
#### 4. **5/15 EMA Cross Cloud (5min)**
- Calculates and optionally displays a shaded "cloud" between the 5-period and 15-period EMAs on the 5-minute chart.
- Highlights bullish (5 EMA above 15 EMA) and bearish (5 EMA below 15 EMA) conditions with different colors.
- Optionally displays the 5 and 15 EMA lines themselves.
#### 5. **Inside Bar Highlighting**
- Highlights bars where the current high is less than or equal to the previous high and the low is greater than or equal to the previous low (inside bars).
- Color is user-configurable.
#### 6. **9 EMA / VWAP Cross Arrows**
- Plots up/down arrows when the 9 EMA crosses above or below the VWAP.
- Arrow colors and visibility are configurable.
#### 7. **Dynamic Labels**
- On the most recent bar, displays labels for each enabled line (EMAs, VWAP), offset to the right for clarity.
- Labels include the timeframe, type, and current value.
### Customization Options
- **Visibility:** Each plot (line, cloud, arrow, label) can be individually toggled on/off.
- **Colors:** All lines, clouds, and arrows can be colored to user preference, including opacity for clouds.
- **Timeframes:** JLines and EMAs can be calculated on different timeframes, including a custom one.
- **Label Text:** Labels dynamically reflect current indicator values and are color-coded to match their lines.
### Technical Implementation Highlights
- **Helper Functions:** Functions abstract away the logic for multi-timeframe EMA calculation.
- **Security Calls:** Uses `request.security` to fetch data from other timeframes, ensuring accurate multi-timeframe plotting.
- **Efficient Label Management:** Deletes old labels and creates new ones only on the last bar to avoid clutter and maintain performance.
- **Conditional Plotting:** All visual elements are conditionally plotted based on user input, making the indicator highly flexible.
### Use Cases
- **Trend Identification:** Multiple EMAs and VWAP help traders quickly identify trend direction and strength across timeframes.
- **Support/Resistance:** 200 EMA and JLines often act as dynamic support/resistance levels.
- **Entry/Exit Signals:** Crosses between 9 EMA and VWAP, as well as 5/15 EMA clouds, can signal potential trade entries or exits.
- **Pattern Recognition:** Inside bar highlights aid in spotting consolidation and breakout patterns.
### Summary Table of Configurable Elements
| Feature | Timeframes | Cloud Option | Label Option | Color Customizable | Description |
|----------------------------|-------------------|--------------|--------------|--------------------|-----------------------------------------------|
| JLines (72/89 EMA) | 1m, 3m, 5m, 1h, Custom | Yes | Yes | Yes | Key trend-following EMAs with cloud fill |
| 200 EMA | 1m, 3m, 5m, 15m, 1h | No | Yes | Yes | Long-term trend indicator |
| 9 EMA | Any | No | Yes | Yes | Short-term trend indicator |
| VWAP | Chart TF | No | Yes | Yes | Volume-weighted average price |
| 5/15 EMA Cloud (5m) | 5m | Yes | No | Yes | Bullish/bearish cloud between 5/15 EMAs |
| Inside Bar Highlight | Chart TF | No | N/A | Yes | Highlights price consolidation |
| 9 EMA / VWAP Cross Arrows | Chart TF | No | N/A | Yes | Marks EMA/VWAP crossovers with arrows |
This script is ideal for traders seeking a robust, multi-timeframe overlay that combines trend, momentum, and pattern signals in a single, highly customizable indicator. I do not advocate to subscribe to JTrades or the system they tout. This is based on my own observations and not a copy of any JTrades scripts. It is open source to allow full transparency.
Enhanced TEMA with Decimal PeriodsImagine you have a special type of moving average line called a TEMA (Triple
Moving Average). A TEMA is designed to be even quicker to react to price changes than a regular EMA (Exponential Moving Average), helping traders spot trends faster.
What this script does:
Super-Precise TEMA Length:
Normally, when you set the "length" or "period" for a moving average, you use whole numbers (like 10 days, 20 days).
This script lets you be more precise and use decimal numbers for the TEMA's length (like 26.0 days, or even 26.7 days). This allows for very fine-tuning.
How it gets the "Decimal" EMA part (if you choose to use it):
If you want a TEMA with a length of, say, 26.7:
The script first needs to calculate EMAs with a length of 26.7.
To do this, it cleverly calculates two regular EMAs: one with a length of 26 and another with a length of 27 (the whole numbers just below and above 26.7).
Then, it blends these two EMAs. Since 26.7 is closer to 27, it takes more from the "27-period EMA" and a bit less from the "26-period EMA." This mix gives you an EMA that acts like it has a 26.7 period.
Building the TEMA:
A TEMA isn't just one EMA. It's made by taking an EMA of an EMA, and then an EMA of that. It's like smoothing the line multiple times, but in a special mathematical way to make it faster.
So, this script:
-Calculates the first "decimal EMA" (e.g., for 26.7).
-Calculates another "decimal EMA" of that first EMA line (again, using 26.7).
-Calculates a third "decimal EMA" of the second EMA line (still using 26.7).
Finally, it combines these three EMAs using a special TEMA formula to get the final, quick-reacting TEMA line.
Option to Switch Off Decimals:
There's a setting ("Use Decimal Periods"). If you turn this off, the script will just use regular whole-number EMAs to build the TEMA (it will round down your decimal input, so 26.7 would become 26).
Plotting:
The final "Enhanced TEMA" line is drawn on your price chart.
In Simple Terms:
This script gives you a TEMA (a fast-moving average) that you can set up with very precise decimal lengths (like 26.7 instead of just 26 or 27).
It does this "decimal magic" by smartly blending two regular EMAs. You can also choose to use it like a normal TEMA with whole numbers if you prefer. The goal is to give traders a very responsive trend-following line that can be fine-tuned to a high degree of precision.
Daily Percent Change LabelDaily Percent Change Label
Overview
This Pine Script displays the percentage change from the previous day's closing price as a text label near the current price level on the chart. It works seamlessly across any timeframe (daily, hourly, minute charts) by referencing the daily chart's previous close, making it perfect for traders tracking daily performance.
The label is displayed with a semi-transparent background (green for positive changes, red for negative changes) and white text, ensuring a clean and readable appearance.
Features
Accurate Daily Percent Change: Calculates the percentage change based on the previous day's closing price, even on intraday timeframes (e.g., 1-hour, 5-minute).
Dynamic Label: Shows the percentage change as a label aligned with the current price, updating in real-time.
Color-Coded Background: Semi-transparent green background for positive changes and red for negative changes.
Customizable: Adjust label position, size, color, and style to fit your preferences.
Minimal Impact: No additional plots or graphs, keeping the chart uncluttered.
How to Use
Add the Script:
Copy and paste the script into the Pine Editor in TradingView.
Click "Add to Chart" to apply it.
Check the Output:
A text label (e.g., "+2.34%" or "-1.56%") appears near the current price with a semi-transparent background.
The label is colored green (positive) or red (negative) and updates in real-time.
Switch Timeframes:
Works on any timeframe. The percentage change is always calculated relative to the previous day's close.
Customization Options
Modify the label.new function to customize the label:
Label Position:
Change style=label.style_label_left to label.style_label_right or label.style_label_down to adjust label placement.
Adjust bar_index with an offset (e.g., bar_index + 1) to move the label horizontally.
Text Color:
Modify textcolor=color.white to another color (e.g., color.rgb(255, 255, 0) for yellow).
Background Color:
Adjust color=percent_change >= 0 ? color.new(color.green, 50) : color.new(color.red, 50) to change transparency (e.g., color.new(color.green, 0) for no transparency).
Text Size:
Change size=size.normal to size.small or size.large for smaller or larger text.
Code Details
Timeframe Handling: Uses request.security with the "D" timeframe to fetch the previous day's closing price, ensuring accuracy on intraday charts.
Performance: Updates only on the last bar (barstate.islast) for optimal performance.
Dynamic Styling: Background color changes based on the direction of the price change.
Notes
The label is positioned near the current price for easy reference. To move it closer to the Y-axis, adjust the bar_index offset.
For different reference points (e.g., weekly close), modify the request.security timeframe (e.g., "W" for weekly).
Ensure the script is copied correctly without extra spaces or characters. Use a plain text editor (e.g., Notepad) for copying.
Feedback
Please share your feedback or customizations in the comments! If you find this script helpful, give it a thumbs-up or let others know how you're using it. Happy trading!
Anchored Darvas Box## ANCHORED DARVAS BOX
---
### OVERVIEW
**Anchored Darvas Box** lets you drop a single timestamp on your chart and build a Darvas-style consolidation zone forward from that exact candle. The indicator freezes the first user-defined number of bars to establish the range, verifies that price respects that range for another user-defined number of bars, then waits for the first decisive breakout. The resulting rectangle captures every tick of the accumulation phase and the exact moment of expansion—no manual drawing, complete timestamp precision.
---
### HISTORICAL BACKGROUND
Nicolas Darvas’s 1950s box theory tracked institutional accumulation by hand-drawing rectangles around tight price ranges. A trade was triggered only when price escaped the rectangle.
The anchored version preserves Darvas’s logic but pins the entire sequence to a user-chosen candle: perfect for analysing a market open, an earnings release, FOMC minute, or any other catalytic bar.
---
### ALGORITHM DETAIL
1. **ANCHOR BAR**
*You provide a timestamp via the settings panel.* The script waits until the chart reaches that bar and records its index as **startBar**.
2. **RANGE DEFINITION — BARS 1-7**
• `rangeHigh` = highest high of bars 1-7 plus optional tolerance.
• `rangeLow` = lowest low of bars 1-7 minus optional tolerance.
3. **RANGE VALIDATION — BARS 8-14**
• Price must stay inside ` `.
• Any violation aborts the test; no box is created.
4. **ARMED STATE**
• If bars 8-14 hold the range, two live guide-lines appear:
– **Green** at `rangeHigh`
– **Red** at `rangeLow`
• The script is now “armed,” waiting indefinitely for the first true breakout.
5. **BREAKOUT & BOX CREATION**
• **Up breakout** =`high > rangeHigh` → rectangle drawn in **green**.
• **Down breakout**=`low < rangeLow` → rectangle drawn in **red**.
• Box extends from **startBar** to the breakout bar and never updates again.
• Optional labels print the dollar and percentage height of the box at its left edge.
6. **OPTIONAL COOLDOWN**
• After the box is painted the script can stay silent for a user-defined number of bars, letting you study the fallout without another range immediately arming on top of it.
---
### INPUT PARAMETERS
• **ANCHOR TIME** – Precise yyyy-mm-dd HH:MM:SS that seeds the sequence.
• **BARS TO DEFINE RANGE** – Default 7; affects both definition and validation windows.
• **OPTIONAL TOLERANCE** – Absolute price buffer to ignore micro-wicks.
• **COOLDOWN BARS AFTER BREAKOUT** – Pause length before the indicator is allowed to re-anchor (set to zero to disable).
• **SHOW BOX DISTANCE LABELS** – Toggle to print Δ\$ and Δ% on every completed box.
---
### USER WORKFLOW
1. Add the indicator, open settings, and set **ANCHOR TIME** to the candle you care about (e.g., “2025-04-23 09:30:00” for NYSE open).
2. Watch live as the script:
– Paints the seven-bar range.
– Draws validation lines.
– Locks in the box on breakout.
3. Use the box boundaries as structural stops, targets, or context for further trades.
---
### PRACTICAL APPLICATIONS
• **OPENING RANGE BREAKOUTS** – Anchor at the first second of the session; capture the initial 7-bar range and trade the first clean break.
• **EVENT STUDIES** – Anchor at a news candle to measure immediate post-event volatility.
• **VOLUME PROFILE FUSION** – Combine the anchored box with VPVR to see if the breakout occurs at a high-volume node or a low-liquidity pocket.
• **RISK DISCIPLINE** – Stop-loss can sit just inside the opposite edge of the anchored range, enforcing objective risk.
---
### ADVANCED CUSTOMISATION IDEAS
• **MULTIPLE ANCHORS** – Clone the indicator and anchor several boxes (e.g., London open, New York open).
• **DYNAMIC WINDOW** – Switch the 7-bar fixed length to a volatility-scaled length (ATR percentile).
• **STRATEGY WRAPPER** – Turn the indicator into a `strategy{}` script and back-test anchored boxes on decades of data.
---
### FINAL THOUGHTS
Anchored Darvas Boxes give you Darvas’s timeless range-break methodology anchored to any candle of interest—perfect for dissecting openings, economic releases, or your own bespoke “important” bars with laboratory precision.
Auto Darvas Boxes## AUTO DARVAS BOXES
---
### OVERVIEW
**Auto Darvas Boxes** is a fully-automated, event-driven implementation of Nicolas Darvas’s 1950s box methodology.
The script tracks consolidation zones in real time, verifies that price truly “respects” those zones for a fixed validation window, then waits for the first decisive range violation to mark a directional breakout.
Every box is plotted end-to-end—from the first candle of the sideways range to the exact candle that ruptures it—giving you an on-chart, visually precise record of accumulation or distribution and the expansion that follows.
---
### HISTORICAL BACKGROUND
* Nicolas Darvas was a professional ballroom dancer who traded U.S. equities by telegram while touring the world.
* Without live news or Level II, he relied exclusively on **price** to infer institutional intent.
* His core insight: true market-moving entities leave footprints in the form of tight ranges; once their buying (or selling) is complete, price erupts out of the “box.”
* Darvas’s original procedure was manual—he kept notebooks, drew rectangles around highs and lows, and entered only when price punched out of the roof of a valid box.
* This indicator distills that logic into a rolling, self-resetting state machine so you never miss a box or breakout on any timeframe.
---
### ALGORITHM DETAIL (FOUR-STATE MACHINE)
**STATE 0 – RANGE DEFINITION**
• Examine the last *N* candles (default 7).
• Record `rangeHigh = highest(high, N) + tolerance`.
• Record `rangeLow = lowest(low, N) – tolerance`.
• Remember the index of the earliest bar in this window (`startBar`).
• Immediately transition to STATE 1.
**STATE 1 – RANGE VALIDATION**
• Observe the next *N* candles (again default 7).
• If **any** candle prints `high > rangeHigh` or `low < rangeLow`, the validation fails and the engine resets to STATE 0 **beginning at the violating candle**—no halfway boxes, no overlap.
• If all *N* candles remain inside the range, the box becomes **armed** and we transition to STATE 2.
**STATE 2 – ARMED (LIVE VISUAL FEEDBACK)**
• Draw a **green horizontal line** at `rangeHigh`.
• Draw a **red horizontal line** at `rangeLow`.
• Lines are extended in real time so the user can see the “live” Darvas ceiling and floor.
• Engine waits indefinitely for a breakout candle:
– **Up-Breakout** if `high > rangeHigh`.
– **Down-Breakout** if `low < rangeLow`.
**STATE 3 – BREAKOUT & COOLDOWN**
• Upon breakout the script:
1. Deletes the live range lines.
2. Draws a **filled rectangle (box)** from `startBar` to the breakout bar.
◦ **Green fill** when price exits above the ceiling.
◦ **Red fill** when price exits below the floor.
3. Optionally prints two labels at the left edge of the box:
◦ Dollar distance = `rangeHigh − rangeLow`.
◦ Percentage distance = `(rangeHigh − rangeLow) / rangeLow × 100 %`.
• After painting, the script waits a **user-defined cooldown** (default = 7 bars) before reverting to STATE 0. The cooldown guarantees separation between consecutive tests and prevents overlapping rectangles.
---
### INPUT PARAMETERS (ALL ADJUSTABLE FROM THE SETTINGS PANEL)
* **BARS TO DEFINE RANGE** – Number of candles used for both the definition and validation windows. Classic Darvas logic uses 7 but feel free to raise it on higher timeframes or volatile instruments.
* **OPTIONAL TOLERANCE** – Absolute price buffer added above the ceiling and below the floor. Use a small tolerance to ignore single-tick spikes or data-feed noise.
* **COOLDOWN BARS AFTER BREAKOUT** – How long the engine pauses before hunting for the next consolidation. Setting this equal to the range length produces non-overlapping, evenly spaced boxes.
* **SHOW BOX DISTANCE LABELS** – Toggle on/off. When on, each completed box displays its vertical size in both dollars and percentage, anchored at the box’s left edge.
---
### REAL-TIME VISUALISATION
* During the **armed** phase you see two extended, colour-coded guide-lines showing the exact high/low that must hold.
* When the breakout finally occurs, those lines vanish and the rectangle instantly appears, coloured to match the breakout direction.
* This immediate visual feedback turns any chart into a live Darvas tape—no manual drawing, no lag.
---
### PRACTICAL USE-CASES & BEST-PRACTICE WORKFLOWS
* **INTRADAY MOMENTUM** – Drop the script on 1- to 15-minute charts to catch tight coils before they explode. The coloured box marks the precise origin of the expansion; stops can sit just inside the opposite side of the box.
* **SWING & POSITION TRADING** – On 4-hour or daily charts, boxes often correspond to accumulation bases or volatility squeezes. Waiting for the box-validated breakout filters many false signals.
* **MEAN-REVERSION OR “FADE” STRATEGIES** – If a breakout immediately fails and price re-enters the box, you may have trapped momentum traders; fading that failure can be lucrative.
* **RISK MANAGEMENT** – Box extremes provide objective, structure-based stop levels rather than arbitrary ATR multiples.
* **BACK-TEST RESEARCH** – Because each box is plotted from first range candle to breakout candle, you can programmatically measure hold time, range height, and post-breakout expectancy for any asset.
---
### CUSTOMISATION IDEAS FOR POWER USERS
* **VOLATILITY-ADAPTIVE WINDOW** – Replace the fixed 7-bar length with a dynamic value tied to ATR percentile so the consolidation window stretches or compresses with volatility.
* **MULTI-TIMEFRAME LOGIC** – Only arm a 5-minute box if the 1-hour trend is aligned.
* **STRATEGY WRAPPER** – Convert the indicator to a full `strategy{}` script, automate entries on breakouts, and benchmark performance across assets.
* **ALERTS** – Create TradingView alerts on both up-breakout and down-breakout conditions; route them to webhook for broker automation.
---
### FINAL THOUGHTS
**Auto Darvas Boxes** packages one of the market’s oldest yet still potent price-action frameworks into a modern, self-resetting indicator. Whether you trade equities, futures, crypto, or forex, the script highlights genuine contraction-expansion sequences—Darvas’s original “boxes”—with zero manual effort, letting you focus solely on execution and risk.
Frozen Bias Zones – Sentiment Lock-insOverview
The Frozen Bias Zones indicator visualizes market sentiment lock-ins using a combination of RSI, MACD, and OBV. It creates "bias zones" that indicate whether the market is in a sustained bullish or bearish phase. These zones are then highlighted on the chart, helping traders spot when the market is locked in a bias. The script also detects breakout events from these zones and marks them with clear labels for easier decision-making.
Features
Multi-Indicator Sentiment Analysis: Combines RSI, MACD, and OBV to detect synchronized bullish or bearish sentiment.
Frozen Bias Zones: Identifies and visually represents zones where the market has remained in a particular sentiment (bullish or bearish) for a defined period.
Breakout Alerts: Displays labels to indicate when the price breaks out of the established bias zone.
Customizable Inputs: Adjust the zone duration, RSI, MACD, and breakout label visibility.
Input Parameters
Bias Duration (biasLength)
The minimum number of candles the market must stay in a specific sentiment to consider it a "Frozen Bias Zone".
Default: 5 candles.
RSI Period (rsiPeriod)
Period for the Relative Strength Index (RSI) calculation.
Default: 14 periods.
MACD Settings
MACD Fast (macdFast): The fast-moving average period for the MACD calculation.
Default: 12.
MACD Slow (macdSlow): The slow-moving average period for the MACD calculation.
Default: 26.
MACD Signal (macdSig): The signal line period for MACD.
Default: 9.
Show Break Label (showBreakLabel)
Toggle to show labels when the price breaks out of the bias zone.
Default: True (shows label).
Bias Zone Colors
Bullish Bias Color (bullColor): The color for bullish zones (light green).
Bearish Bias Color (bearColor): The color for bearish zones (light red).
How It Works
This indicator analyzes three key market metrics to determine whether the market is in a bullish or bearish phase:
RSI (Relative Strength Index)
Measures the speed and change of price movements. RSI > 50 indicates a bullish phase, while RSI < 50 indicates a bearish phase.
MACD (Moving Average Convergence Divergence)
Measures the relationship between two moving averages of the price. A positive MACD histogram indicates bullish momentum, while a negative histogram indicates bearish momentum.
OBV (On-Balance Volume)
Uses volume flow to determine if a trend is likely to continue. A rising OBV indicates bullish accumulation, while a falling OBV indicates bearish distribution.
Bias Zone Detection
The market sentiment is considered bullish if all three indicators (RSI, MACD, and OBV) are bullish, and bearish if all three indicators are bearish.
Bullish Zone: A zone is created when the market sentiment remains bullish for the duration of the specified biasLength.
Bearish Zone: A zone is created when the market sentiment remains bearish for the duration of the specified biasLength.
These bias zones are visually represented on the chart as colored boxes (green for bullish, red for bearish).
Breakout Detection
The script automatically detects when the market exits a bias zone. If the price moves outside the bounds of the established zone (either up or down), the script will display one of the following labels:
Bias Break (Up): Indicates that the price has broken upwards out of the zone (with a green label).
Bias Break (Down): Indicates that the price has broken downwards out of the zone (with a red label).
These labels help traders easily identify potential breakout points.
Example Use Case
Bullish Market Conditions: If the RSI is above 50, the MACD histogram is positive, and OBV is increasing, the script will highlight a green bias zone. Traders can watch for potential bullish breakouts or trend continuation after the zone ends.
Bearish Market Conditions: If the RSI is below 50, the MACD histogram is negative, and OBV is decreasing, the script will highlight a red bias zone. Traders can look for potential bearish breakouts when the zone ends.
Conclusion
The Frozen Bias Zones indicator is a powerful tool for traders looking to visualize prolonged market sentiment, whether bullish or bearish. By combining RSI, MACD, and OBV, it helps traders spot when the market is "locked in" to a bias. The breakout labels make it easier to take action when the price moves outside of the established zone, potentially signaling the start of a new trend.
Instructions
To use this script:
Add the Frozen Bias Zones indicator to your TradingView chart.
Adjust the input parameters to suit your trading strategy.
Observe the colored bias zones on your chart, along with breakout labels, to make informed decisions on trend continuation or reversal.
Combined EMA/Smiley & DEM System## 🔷 General Overview
This script creates an advanced technical analysis system for TradingView, combining multiple Exponential Moving Averages (EMAs), Simple Moving Averages (SMAs), dynamic Fibonacci levels, and ATR (Average True Range) analysis. It presents the results clearly through interactive, real-time tables directly on the chart.
---
## 🔹 Indicator Structure
The script consists of two main parts:
### **1. EMA & SMA Combined System with Fibonacci**
- **Purpose:**
Provides visual insights by comparing multiple EMA/SMA periods and identifying significant dynamic price levels using Fibonacci ratios around a calculated "Golden" line.
- **Components:**
- **Moving Averages (MAs)**:
- 20 EMAs (periods from 20 to 400)
- 20 SMAs (also from 20 to 400)
- **Golden Line:**
Calculated as the average of all EMAs and SMAs.
- **Dynamic Fibonacci Levels:**
Key ratios around the Golden line (0.5, 0.618, 0.786, 1.0, 1.272, 1.414, 1.618, 2.0) dynamically adjust based on market conditions.
- **Fibonacci Labels:**
Labels are shown next to Fibonacci lines, indicating their numeric value clearly on the chart.
- **Table (Top Right Corner):**
- Displays:
- **Input:** EMA/SMA periods sorted by their current average price levels.
- **AVG:** The average of corresponding EMA & SMA pairs.
- **EMA & SMA Values:** Individual EMA/SMA values clearly marked.
- **Dynamic Highlighting:** Highlights the row whose average (EMA+SMA)/2 is closest to the current price, helping identify immediate price action significance.
- **Sorting Logic:**
Each EMA/SMA pair is dynamically sorted based on their average values. Color coding (red/green) is used:
- **Green:** EMA/SMA pairs with shorter periods when their average is lower.
- **Red:** EMA/SMA pairs with longer periods when their average is lower.
- **Star (⭐):** Represents the "Golden" average clearly.
---
### **2. DEM System (Dynamic EMA/ATR Metrics)**
- **Purpose:**
Provides detailed ATR statistics to assess market volatility clearly and quickly.
- **Components:**
- **Moving Averages:**
- SMA lines: 25, 50, 100, 200.
- **Bollinger Bands:**
- Based on 20-period SMA of highs and standard deviation of lows.
- **ATR Analysis:**
- ATR calculations for multiple periods (1-day, 10, 20, 30, 40, 50).
- **ATR Premium:** Average ATR of all calculated periods, providing an overarching volatility indicator.
- **ATR Table (Bottom Right Corner):**
- Displays clearly structured ATR values and percentages relative to the current close price:
- Columns: **ATR Period**, **Value**, and **% of Close**.
- Rows: Each specific ATR (1D, 10, 20, 30, 40, 50), plus ATR premium.
- The ATR premium is highlighted in yellow to signify its importance clearly.
---
## 🔹 Key Features and Logic Explained
- **Dynamic EMA/SMA Sorting:**
The script computes the average of each EMA/SMA pair and sorts them dynamically on each bar, highlighting their relative importance visually. This allows traders to easily interpret the strength of current support/resistance levels based on moving averages.
- **Closest EMA/SMA Pair to Current Price:**
Calculates the absolute difference between the current price and all EMA/SMA averages, highlighting the closest one for quick reference.
- **Fibonacci Ratios:**
- Dynamically calculated Fibonacci levels based on the "Golden" EMA/SMA average give clear visual guidance for potential targets, supports, and resistances.
- Labels are continuously updated and placed next to levels for clarity.
- **ATR Volatility Analysis:**
- Provides immediate insight into market volatility with absolute and relative (percentage-based) ATR values.
- ATR premium summarizes volatility across multiple timeframes clearly.
---
## 🔹 Practical Use Case:
- Traders can quickly identify support/resistance and critical price zones through EMA/SMA and Fibonacci combinations.
- Useful in assessing immediate volatility, guiding stop-loss and take-profit levels through detailed ATR metrics.
- The dynamic highlighting in tables provides intuitive, real-time decision support for active traders.
---
## 🔹 How to Use this Script:
1. **Adjust EMA & SMA Lengths** from indicator settings if different periods are preferred.
2. **Monitor dynamic Fibonacci levels** around the "Golden" average to identify possible reversal or continuation points.
3. **Check EMA/SMA table:** Rows highlighted indicate immediate significance concerning current market price.
4. **ATR table:** Use volatility metrics for better risk management.
---
## 🔷 Conclusion
This advanced Pine Script indicator efficiently combines multiple EMAs, SMAs, dynamic Fibonacci retracement levels, and volatility analysis using ATR into a comprehensive real-time analytical tool, enhancing traders' decision-making capabilities by providing clear and actionable insights directly on the TradingView chart.
